Local shrimp exporters are facing a tough competition from rivals to survive in the global market, as they are yet to introduce the new and highly productive vannamei species.
Industry insiders said both the demand and prices of local products decreased in the international market because of the ongoing recession.
Moreover, local exporters’ dependence on traditional markets is also responsible for lagging behind in the race. Bangladesh's frozen fish export is mainly confined to the EU and the U.S. markets.
The Export Promotion Bureau (EPB) data shows that the sector has been continuously witnessing a negative export growth since April last year.
Export earnings stood at USD 129.54 million during the first three months of the current fiscal year (FY 13), marking a 30.50 percent negative growth, compared to the same period of the previous fiscal. The earnings also fell short of the target, set for this July-September period, by 21.92 percent.
Exporters said the demand for big-sized golda and bagda shrimps declined in the recession-hit EU and U.S. markets, as they have switched to small and low-priced vannamei.
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