$32m surplus earnings from shrimp exports in 5 months

http://www1.bssnews.net/newsDetails.php?cat=2&id=213740&date=2011-12-11

$32m surplus earnings from shrimp exports in 5 months

DHAKA, Dec 11 (BSS) – The country earned US$ 32 million surpass earnings from shrimp exports during the five months of the current fiscal leaving aside the financial constraints facing the European countries, the major destinations for Bangladesh’s shrimp export.

Bangladesh maintained the positive growth in the export earnings during the period at a time when the country’s competitors such as India and Vietnam could not perform up to the mark, thanks to the government steps for export promotion.

Bangladesh earned US$240.19 against the target of US$208m during the period registering 15 per cent growth, according to the Export Promotion Bureau (EPB) latest data.

“We got good price of shrimps in the global market. Country’s export performance is good compared to our competitors India and Vietnam,” M Kazi Shanewaz, President of Bangladesh Frozen Foods Exporters Association (BFFEA), told BSS today.

Shanewaz said the association has targeted Taka 6,000 crore earnings from frozen food exports this fiscal.

The export earnings could be increased to a large extent subject to adoption of modern technology both in fish production and processing, he added.

Referring to the natural disasters including cyclone Aila, the BFFEA chief said shrimp producers incurred huge loss of money due to the natural calamities.

The sector needs government support to offset the loss of exporters and increase production for maintaining steady growth in the years to come.

The EU is the largest market for the country’s frozen fish, followed by the USA.

Bangladesh registered a 40 percent rise in export earnings from frozen foods mainly shrimp to $625 million in fiscal 2010-11 from $445 million in the previous year, according to the EPB.

Advertisements

Comments are closed.