Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Frozen black tiger shrimp for export. (Photo: Bangladeshseafood)

Foreign vannamei shrimp depresses frozen seafood exports

Click on the flag for more information about Bangladesh BANGLADESH
Monday, October 05, 2015, 00:20 (GMT + 9)

Frozen seafood exporters from Bangladesh have been forced to decline their prices to improve sales given the large cheaper vannamei shrimp supply in the international market and the fall of the euro and the ruble against the American dollar.

From the sector it has been pointed out that this large supply of low-priced vannamei led to the decline in the cost of Bangladeshi frozen fish by nearly 40 per cent, The Financial Express reported.

Seafood importers from key destinations like European countries and Russia mostly prefer to choose low-priced vannamei shrimp to the Bangladeshi black tiger shrimp as their currency has fallen against the dollar. The United States also imports the same variety of shrimp following its low cost.

According to the Bangladesh Frozen Food Exporters Association (BFFEA), the average cost of frozen shrimp to the EU countries declined from USD 12.88 to USD 8.96 per kg in the fiscal years 2013-14 and 2014-15.

Besides, BFFEA stressed frozen shrimp exports to the EU, the US and Russian markets also decreased significantly in volume during last year.

In addition, the Export Promotion Bureau (EPB) data revealed a drop in profits from frozen shrimp exports, which declined by around 41 per cent in the July-August period in the fiscal year 2015-16 compared to that of the corresponding period of the fiscal year 2014-15,

The sector earned USD 68.69 million during the first two months of this fiscal year, compared to USD 115.73 million received during the same period of last year.

For his part, ARK Sea Foods Ltd managing director Amin Ullah pointed out: "We are now making push sales to foreign buyers as there is no sufficient demand of our products in the market."

“Following available supply of vannamei shrimp, the demand for Bangladeshi black tiger decreased notably in the world market,” he added.

The executive also stressed the difficulties to widen the extent of customers, which is not settled even by offering lower prices.

Referring to the challenges faced by exporters, BFFEA representatives explained the exporters already lost their working capital of BDT 4.63 billion (USD 58.4 million) in the last fiscal year.

Lockpur Group of Industries Ltd deputy managing director Khan Habibur Rahman highlighted the fact that the world frozen shrimp market is now “buyer's dominating ones for Bangladesh,” which makes it difficult for them to bargain with the customers for better prices.

Given all these challenges, exporters have urged the government to take some measures such as block accounts and subsidy ceiling increases.

“With production of low-priced vannamei, India,Thailand and Vietnam are now leading the world shrimp market through export of vannamei shrimp,” exporters claimed.

“It is very difficult to achieve the target this fiscal year. The target of earnings from frozen fish sector was fixed by the EPB at USD 578 million in this fiscal year of which only 40 to 45 per cent can be achieved during 12 months of current fiscal year,” exporters explained.

Bangladesh earned some USD 568 million through export of frozen fish in the fiscal year 2014-15. 


[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Argentina
Jun 26, 00:10 (GMT + 9):
Low shrimp sales and falling prices worry the fisheries sector
Italy
Jun 26, 00:00 (GMT + 9):
FAO study urges smarter use of small pelagic species in Africa's lakes an river
Mexico
Jun 25, 21:30 (GMT + 9):
CIAD scientists develop aquaculture food that stimulates immune system of fish
Australia
Jun 25, 19:00 (GMT + 9):
IN BRIEF - Cooke Aquaculture collaborating on study to track sulphide levels on seabed near salmon farms
United Kingdom
Jun 25, 19:00 (GMT + 9):
IN BRIEF - Brindisa brings Nortindal Cuttlefish Ink to the UK
United States
Jun 25, 17:00 (GMT + 9):
Annual catch limit of 492,000 lb implemented for Deep 7 bottomfish in the main Hawaiian islands
Viet Nam
Jun 25, 17:00 (GMT + 9):
Shrimp exports to the EU will improve when the EVFTA takes effect
Canada
Jun 25, 16:50 (GMT + 9):
Mowi Canada West achieves World’s First Multi-site ASC Certification
United States
Jun 25, 16:10 (GMT + 9):
Cargill and InnovaFeed come together to propose sustainable and innovative feed options
United States
Jun 25, 15:00 (GMT + 9):
Official data of catfish, panga o basa fillets imports
Japan
Jun 25, 05:50 (GMT + 9):
Customs statistics of bigeye tuna imports
European Union
Jun 25, 05:00 (GMT + 9):
EU hails IOTC adoption of 'ambitious measures' on FADs
Chile
Jun 25, 04:00 (GMT + 9):
Council of Ministers approves modificationof Aquaculture Environmental Regulation
Peru
Jun 25, 03:30 (GMT + 9):
Scallop farming recovery expected to consolidate this year
Norway
Jun 25, 00:10 (GMT + 9):
Norwegian exports of fresh and frozen salmon in week 24



Lenguaje
FEATURED EVENTS
  
TOP STORIES
EU countries agree to changes in the Fisheries Fund, which Brussels does not like
European Union The Member States approve flexibility rules and the European Commission believes that efforts in favor of sustainable fisheries are jeopardized.   The countries of the European Union closed an ...
First ever fisheries dialogue between the EU and Pacific Forum Fishery Agency
European Union POHNPEI -- For the first time in the Pacific region, a policy dialogue between the seventeen (17) Forum Fishery Agency (FFA) Members and the European Union (EU) to discuss issues and challenges relati...
Greenpeace Says Export of Fish Oil and Meal Is a Threat to Millions in Africa
Worldwide The environmental group said Wednesday, that the exporting of tonnes of fish oil and fish meal from Africa to China and Europe poses a serious danger to the diets of millions of Africans. Greenpeace,...
Official presentation of the new brand of 'The sustainable tuna of Ecuador'
Ecuador "The sustainable tuna of Ecuador" is the brand that was presented yesterday June 20 in Manta, in the framework of the 4th Regional Tuna Forum, which takes place in Manta. The event takes pla...
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation
Marona S.A.
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2019 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER