Why can't Bangladesh's shrimp farming industry gain a foothold in the international market?

Published 2024년 10월 23일

Tridge summary

The article highlights the difficulties faced by Bangladesh's shrimp industry, which produces 135,000 tons annually, including black tiger shrimp. Despite exporting 17,500 tons mainly to the EU, UK, and US, the industry struggles with market access due to stringent quality and sustainability standards. Most farmed shrimp is consumed domestically, but weak production growth and raw material shortages have led to processing plant closures and job losses. Exporters' lack of long-term vision results in practices like water injection, compromising product quality. Mislabeling is a significant issue, exacerbated by weak EU labeling laws. Companies like Lenk Group are working to overcome these challenges by exploring new markets and enhancing the supply chain.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Official data shows that Bangladesh produces about 135,000 tons of shrimp, including 70,000 tons of black tiger shrimp, 55,000 tons of Macrobrachium rosenbergii, and about 10,000 tons of wild shrimp. Willem van der Shrimp Insight Editor-in-Chief Pijl mentioned in the report that in the export-oriented industry, Bangladesh faces huge challenges in market access. About 17,500 tons of black tiger shrimp will be exported in 2023. The EU is the main export market, accounting for about 70%, followed by the UK (12%) and the United States (6%). Bangladesh shrimp products are mainly supplied to the catering market. The European and American catering sectors have very high thresholds for product quality and sustainability, and are often driven by price. Buyers often use quality as an excuse to keep prices to the lowest, which is very unfavorable to Bangladesh. UCN statistics show that for most of the past seven years, Bangladeshi shrimp products have been more expensive than Vietnam. Most ...

Source: Foodmate