Shrimp exports from Bangladesh surged 42 percent to $109 million in
July-August as a disease has brought down production in other exporting
countries—Thailand, China and Vietnam.
The disease, known as Early Mortality Syndrome (EMS), has affected white shrimp or Vannamei production in the competitor countries, creating a shortage in supply and raising the prices.
The local shrimp processors said the high prices will continue through the rest of the current fiscal year and they will log half a billion dollars in exports.
“We hope to exceed our export target for the fiscal year as demand and current prices are likely to sustain until June 2014,” Md Amin Ullah, president of Bangladesh Frozen Foods Exporters Association, said.
“The production shortage in major shrimp growing nations is unlikely to recover soon.”
Shrimp processors had earlier targeted $477 million in export earnings in fiscal 2013-14, which is 5 percent higher than the actual export figures of $454 million in fiscal 2012-13, according to Export Promotion Bureau.
Over the past two years, the disease caused large-scale die-offs of cultivated shrimp in several countries in Asia, the Food and Agriculture Organisation said earlier.
“The production of farmed shrimp in Asia, dominated by vannamei, remains lower than last year as a result of the EMS disease outbreak in Southeast Asia,” the UN agency said in a report on seafood markets.
However shrimp prices inched up in international trade although there has been no real boost in demand in the traditional markets, it added.
It said shrimp production in Thailand is down by half the volume produced last year as it was seriously affected by the disease late last year.
EMS was first detected in Chinese farms in 2009, and gradually spread to Malaysia, Vietnam and Thailand, said Thai newspaper Bangkok Post early this month.
Since the EMS epidemic, China has been importing shrimp from India and Ecuador just to satisfy huge domestic demand. Vietnam has also been importing shrimp to keep its processing industry going.
“Prices of our black tiger shrimp have gone up unexpectedly, which we did not see in the last decade,” said Khan Habibur Rahman, deputy managing director of Lockpur Group, a leading seafood exporter.
Prices of shrimp or black tiger of 16-20 grades now stand at $9 a pound. Last year, the price of the same hovered around $5 a pound, he said.
“Farmers will feel encouraged to cultivate more due to the price spike,” he said. But exports in volume have not increased in line with the price spiral because of limited local production.
Bangladesh usually ships 50,000-55,000 tonnes of shrimp a year, mainly to Europe and the US, according to the Department of Fisheries.
Syed Mahmudul Karim, executive director of Bangladesh Shrimp and Fish Foundation (BSFF), said a shortage of global production has opened a bright future for the local shrimp industry.
“Bangladesh should take full advantage of this opportunity.”
The disease, known as Early Mortality Syndrome (EMS), has affected white shrimp or Vannamei production in the competitor countries, creating a shortage in supply and raising the prices.
The local shrimp processors said the high prices will continue through the rest of the current fiscal year and they will log half a billion dollars in exports.
“We hope to exceed our export target for the fiscal year as demand and current prices are likely to sustain until June 2014,” Md Amin Ullah, president of Bangladesh Frozen Foods Exporters Association, said.
“The production shortage in major shrimp growing nations is unlikely to recover soon.”
Shrimp processors had earlier targeted $477 million in export earnings in fiscal 2013-14, which is 5 percent higher than the actual export figures of $454 million in fiscal 2012-13, according to Export Promotion Bureau.
Over the past two years, the disease caused large-scale die-offs of cultivated shrimp in several countries in Asia, the Food and Agriculture Organisation said earlier.
“The production of farmed shrimp in Asia, dominated by vannamei, remains lower than last year as a result of the EMS disease outbreak in Southeast Asia,” the UN agency said in a report on seafood markets.
However shrimp prices inched up in international trade although there has been no real boost in demand in the traditional markets, it added.
It said shrimp production in Thailand is down by half the volume produced last year as it was seriously affected by the disease late last year.
EMS was first detected in Chinese farms in 2009, and gradually spread to Malaysia, Vietnam and Thailand, said Thai newspaper Bangkok Post early this month.
Since the EMS epidemic, China has been importing shrimp from India and Ecuador just to satisfy huge domestic demand. Vietnam has also been importing shrimp to keep its processing industry going.
“Prices of our black tiger shrimp have gone up unexpectedly, which we did not see in the last decade,” said Khan Habibur Rahman, deputy managing director of Lockpur Group, a leading seafood exporter.
Prices of shrimp or black tiger of 16-20 grades now stand at $9 a pound. Last year, the price of the same hovered around $5 a pound, he said.
“Farmers will feel encouraged to cultivate more due to the price spike,” he said. But exports in volume have not increased in line with the price spiral because of limited local production.
Bangladesh usually ships 50,000-55,000 tonnes of shrimp a year, mainly to Europe and the US, according to the Department of Fisheries.
Syed Mahmudul Karim, executive director of Bangladesh Shrimp and Fish Foundation (BSFF), said a shortage of global production has opened a bright future for the local shrimp industry.
“Bangladesh should take full advantage of this opportunity.”
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