The country's shrimp industry needs to boost production to retain its share in the global market, insiders say.
They said local shrimp sector continues to lose its share in the global market following the introduction of high-yielding and lower-priced hybrid Whiteleg shrimp.
They said besides increasing the production of black tiger, which consists of 90 per cent of the shrimp export market, the country also needs to start producing Vannamei on a large scale. This species is known as Whiteleg shrimp or King prawn.
The shrimp growers and exporters said the sector requires government policy as well as financial support to increase the export share in the global market.
They also said new export markets need to be explored as the traditional shrimp markets are shrinking.
The views came at a webinar on shrimp business in Khulna region, hosted by The Financial Express recently.
FE Editor Shah Husain Imam moderated the webinar.
In his opening speech, the FE Editor said the country achieved self-sufficiency in fish production, but it lags behind shrimp output.
He said in 2012, the country was the No. 2 exporter of shrimp, but now it has slipped to the fifth position.
"Another piece of negative news about shrimp is that its share was 30 per cent in the global fish market, which slumped to around 2 per cent," he said.
Mr Imam said the number of shrimp processing factories came down to 60 from 180 a few years back.
Managing Director of Salam Seafoods Limited, Rupsa, Khulna Kamrul Hasan said the government has to find ways to increase exports.
He said exploring new markets is inevitable to help the sector survive.
Managing Director and CEO of Crimson Rosella Seafood Ltd Md Jalal Uddin said black tiger is delicious, slow-yielding and production cost is high.
He said the country's traditional shrimp export market has been Europe, but Vennamei has been taking away the market from Bangladesh with its low price.
He urged the government to reduce electricity costs to reduce the production expenses of shrimp.
He said China, the Middle East and Russia could be new markets for Bangladeshi shrimp.
Khulna Chingri Bonik Samity Secretary Wahiduzzaman Manzir said high production is a challenge now.
He said the government should offer subsidies to help reduce the production cost.
He said lobster price was decreasing everyday in the European market due to Covid-19.
Deputy Director (quality control) of the Department of Fisheries Mojinur Rahman said exports dropped during Covid-19.
The impact of the pandemic started in April, in June it recovered a little, but the sector was still reeling from the Corvid-19, he noted.
He said Vennamei production would start very soon as its demand has been increasing.
National Chingri Chashi Samity Khulna General Secretary Advocate SK Rafiquzzaman, said the shrimp sector became a victim of propaganda.
He urged the government to decide whether to let the shrimp production continue in the country or not.
While summing up, Mr Imam said there are long-standing and deep-rooted problems in the shrimp industry and they remain unresolved.
The industry is very promising, but it is now passing through an infertile period, he said.
He urged the authorities concerned to form a committee of experts or taskforce to find the problems and challenges in the industry and make a way out.
Mr Imam said the Vennamei production should start soon to retain the market.
Shrimp is being cultivated on around 258,681 hectares of land in the south and southwestern parts of Bangladesh.
Around 90 per cent of shrimp farmers are small entrepreneurs, and they are dependent on imported feed and other inputs, which have also been disrupted in recent times.
The shrimp sector plays a significant role in building the economy as it creates numerous jobs and leaves a positive impact on the aquaculture value chain, poverty reduction, and export earnings.
