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Shrimp industry getting over corona blitz

Published : 12 Oct 2020 08:38 PM | Updated : 26 Oct 2020 11:04 AM

Country’s shrimp industry is overcoming the corona onslaught although the shrimp industry suffered a sordid halt in April, May, and June this year due to coronavirus pandemic.

The exporters expressed their hope and said the industry will come back to its previous sparkle soon.

To keep the economy afloat, exporters kept their factory operation on despite the coronavirus pandemic.

In the 2019-20 fiscal year, shrimp exports from Bangladesh amounted to $332.65 million, while in the 2020-21 fiscal year, an export target of $415 million has been set.

In the three months from July to September of the current financial year, shrimp exports were $ 96.70 million.

Shrimp exporter Shahriar Khan told Bangladesh Post, “Shrimp became a great potential source of export in the recent times. Coronavirus has also had a negative impact on the frozen shrimp export industry. Foreign buyers have canceled 290 orders of frozen shrimp from Bangladesh.”

Although the government has announced incentives to reduce losses, most exporters have not yet received the benefit. This sector requires proper planning and evaluation, he added.

He also urged the authorities concerned to supervise the process properly as the exporters are struggling to get financial assistance package. Moreover, the banks are delaying in providing loans. So they can’t invest more in this sector.

Shrimp exporters have seen huge losses due to coronavirus pandemic in last three months. However, they are hopeful to recover the losses gradually as the demands of shrimp are on the rise.

President of Bangladesh Frozen Food Exporters Association (BFFEA) Kazi Belayet Hossain said, “During the pandemic period, the price of shrimp in the international market has decreased by one and a half dollars per pound. In July, August and September of this year, the country's shrimp industry suffered a lot, but the exporters now restoring the losses.”

Shrimp exporting is a potential sector for the economy. The government has to take the necessary steps for this. Affected farmers, shrimp farm owners, and farmers need to be co-operated. The Fisheries Department is preparing a list of affected farmers. I hope they will get assistance as soon as possible, he added.