Staff Reporter :
Demand for Bangladeshi shrimp has increased in the USA, Canada and European Union (EU) markets amid the ongoing Covid-19 pandemic.
The prices of the shrimps have also increased by 10 to 20 per cent during this time, which has benefited the exporters.
The sector insiders said, the demand for shrimp has been boosted by the Geographical Indication (GI) certification of black tiger.
Analyzing two foreign frozen fish exporting companies-Gemini Sea Food and Apex Foods-it appeared that the profit of the Gemini Sea Food from shrimp exports has increased by 700 per cent (Tk42 crore) in the last six months of the current fiscal year.
The company’s cash incentive has also increased for rise export. As a result, the company’s overall income has increased.
The company exported shrimp worth Tk 48 crore in the six months from July to December period of the current fiscal year.
During the same period of 2020, the company exported shrimp worth only Tk six crore. The company received cash incentive of Tk three crore from the government in the last six months due to increase in exports, which was only Tk 0.43 crore in the same period of the previous year.
On the other hand, Apex Foods Limited exported shrimps worth around Tk 111 crore in July-September period of the current fiscal year, which was only Tk 65 crore in corresponding time of the previous year, the company’s data said.
The export increased by 72 per cent (46 crore) during the time.
The black tiger shrimp of the country attained the prestigious Geographical Indication certificate from the Department of Patents, Designs and Trademarks (DPAT) last year.
Bangladesh is one of the top ten producers of Black Tiger shrimp, and the country began farming this coveted food item back in 1950. Farming for this shrimp expanded to 52,000 hectares in 1980, and annual production reached 2,220 tonnes during that period.
Currently, Bangladesh is farming this shrimp commercially in more than two lakh hectares of land area, located mostly in coastal regions.
The country produces over two lakh tonnes of shrimp and made a profit worth around $348 million from the export.
The shrimp is contributing significantly in fulfilling the local demand and earning foreign currency through exports. Black Tiger shrimps take up nearly 60-70 per cent of the total fish and fish related product exports.
Frozen shrimps occupy 73 per cent of Bangladesh’s fish exports, and 77 per cent of those are Black Tiger shrimps.
The Department of Fisheries has applied for the product’s certification, and the DPDT has taken the necessary steps to secure its eleventh GI tag.
