Bangladesh’s exports earnings from frozen and live fish increased by 11.64 per cent to $533 million but volume declined by 3.32 per cent in the last fiscal year.

According to Export Promotion Bureau (EPB) data, Bangladesh earned $533 million, the highest in last five years, from exports of frozen and live fish in FY22, which was $477 million in FY21.

On the other hand, the export volume recorded down trend.

According to the Ministry of Fisheries and livestock, Bangladesh exported the 74,043 tonnes frozen and live fish in FY 22, down by 3.32 per cent, which was 76,592 tonnes in FY 21.

Currently, Bangladesh exports frozen and live fish to more than 50 countries of the world. Export earnings went up recently due to an increase in the prices of these items. Besides, the exporters have also benefited from the increase in the value of the dollar.

However, the decrease in export volume is because of low production and higher domestic consumption, said experts and industry people. .

Bangladesh Frozen Foods Exporters Association (BFFEA) Senior Vice President and Satkhira Foods Ltd Managing Director M Khalilullah told the Business Post that one of the significant reasons for the decline in fish exports is the decline in production.

“The demand for shrimps has also increased in the country’s market and most small-sized fish are being sold in the country’s markets even before they can be exported. As a result, exports cannot increase. If production in the country cannot be improved, we cannot increase export. Proper planning and action should be taken quickly in this regard,” he said.

About 10 per cent of frozen shrimp exports from Bangladesh used to go to Russia, he informed. However, that has been hampered due to the Russia-Ukraine war.

“Due to this war inflation has increased in European Union (EU) countries,” he said, mentioning that 50 per cent of Bangladesh’s exports in this sector go to the EU.

“Exports were relatively good till July, but export purchase orders are coming in less in August,” he added.

Live fish export earnings went up by a measly 1.74 per cent in the last fiscal year. However, frozen shrimp export earnings alone increased by 23.84 per cent to $407 million.

At present, shrimp accounts for most of the total exports of the fisheries sector. According to the ministry’s data, 74,042 tonnes of frozen and live fish were exported in the last financial year, of which 30,571 tonnes was shrimp.

On the other hand, out of the total export earnings of $532.94 million, shrimp alone earned $407.25 million.

While talking to this correspondent, Fish farmers and exporters said that while there is a scope for foreign investment in this sector, there hasn’t been any actual investment. There also haven’t been any efforts from any level of authority to attract investment.

On the other hand, the country lags behind in terms of increasing production and processing of raw materials. Purposeful steps have not been taken for the technical development of this sector.