Bangladesh’s shrimp industry spiraling down

Bangladesh’s shrimp industry spiralling down, but some try to change the tide. Bangladesh’s export-oriented shrimp industry suffers from a supply shortage and a lack of market access. Exports have gradually dropped from around 55,000 MT in 2016 to only 25,000 MT in 2023. Around 17,500 MT would be accounted for by black tiger shrimp, and the remainder would consist of a combination of farmed freshwater prawn and wild-caught shrimp. The EU accounts for 70% of the export volume, the UK 12%, and the US 6%. Within these markets, Bangladesh sells mainly to the food service segment, which does generally not have very stringent quality and sustainability requirements but is extremely price-driven—incentivising buyers and suppliers to drive the price to the bottom, harming the perception of the quality and reliability of Bangladeshi shrimp in the international market. One reason for the supply shortage is the growth of the domestic market. Official production numbers suggest that shrimp ...