Shrimp exports decline by 62% as Indonesia overtakes Bangladesh

❐ BD Digest Desk

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Despite the increasing demand for the high-yielding and relatively low-cost ‘Venami’ variety of shrimp in the global market, Bangladesh is still stuck in its dependence on the traditional ‘Bagda’ shrimp. As a result, the country’s shrimp exports have declined by about 62 percent in the last 14 years.

According to data from the Export Promotion Bureau (EPB), the Department of Fisheries and the Bangladesh Frozen Foods Exporters Association (BFFEA), in the 2012-13 fiscal year, about 50,000 tons of shrimp were exported from the country, with a market value of about $570 million. However, in the recently concluded 2025-26 fiscal year, it has come down to only 19,000 tons, generating an income of $285.61 million.

This means that over the past decade and a half, shrimp exports have decreased by about 31,000 tons or 62 percent, and foreign exchange earnings have been lost by $284.4 million.

In the 2024-25 fiscal year, 23,238 tons of shrimp worth $296.29 million were exported, which was 4,07 tons and $48 million more than the previous fiscal year, 2023-24. But the just-ended 2025-26 fiscal year saw another major decline—exports fell by 4,238 tons and revenue fell by $16.8 million in the space of a year.

In the just-ended fiscal year, a total of $443.42 million worth of frozen fish and fish products were exported, which is only $1.84 million or 0.42 percent more than the $441.18 million in the 2024-25 fiscal year.

Of this, frozen shrimp exports were worth $285.61 million, frozen fish were worth $94.13 million, and fishery products were worth $63.68 million. That is, excluding fishery products, about 75.21 percent of frozen fish export revenue comes from shrimp alone.

According to exporters, although the country’s shrimp exports are still mainly focused on bagda, the demand for shrimp other than benami in the international market is relatively low. Especially in countries like China, the Netherlands, Belgium, the UK, France, Portugal, the US and Germany, there is little demand for bagda, so they import it as needed.

However, despite the increasing demand, shrimp imports are decreasing year by year. Due to low market prices and high production per hectare, the demand and popularity of the Venami variety of shrimp in the European market are both increasing.

However, despite this opportunity in Bangladesh, traders are still stuck with the old Bagda shrimp. Those concerned are expressing fear that the country’s shrimp export sector will be completely destroyed if initiatives are not taken now to produce and export the Benami variety of shrimp.

According to Shyamal Das, managing director of MU Sea Foods, an exporter, “Bangladesh has long lost its dominance in shrimp exports in the global market. Although there is a high demand for Benami shrimp in the international market, we have not been able to take advantage of that opportunity. Plans are still underway to export Bagda shrimp. The government has already taken several steps. However, since they have not been implemented in the field, the fisheries sector has not been able to create much hope for exports.”

He further commented that if the government does not pay attention to this issue, shrimp, the main export product of the fisheries sector, will remain limited to the domestic market.

Several countries have recently taken initiatives to produce Venami shrimp, most notably Indonesia. The Waingapu Integrated Shrimp Farming Project is being officially implemented by acquiring approximately 2,150 hectares of land in the East Sumba district of the country’s East Nusa Tenggara province.

The project aims to produce about 52,000 tons of shrimp annually and create jobs for 7,000 people. The government has invested 7.2 trillion rupiah (Indonesian currency) or $398.6 million in the project, and plans to launch the project by 2028.

Through this, the Indonesian government has set a goal of achieving a production value of about 4 trillion rupiah or $221.4 million per year.

In contrast, seven thousand acres of land declared as a shrimp zone in Chakoria-Rampura Mouza of Cox’s Bazar district under the jurisdiction of the Department of Fisheries of the Government of Bangladesh has been lying fallow for years; no shrimp is produced there.

According to those concerned, if these lands were leased to exporters on a long-term basis, the country’s export picture could have completely changed.

BFFEA Acting President Tariqul Islam Zahir said, “The demand for Venami shrimp is increasing in the European market as the price of the Bagda shrimp we export is high. That is why we are lagging behind in exports there. On the other hand, small-sized wheel shrimp (30 pieces per kg) are sold for $4-5 in India, Indonesia or Vietnam, but in our local market they are being sold for more than $7. The demand for domestic shrimp is high in the local market. That is why we have no other option but to increase production.”

Informing about a recent meeting with the Finance Minister, he further said, “A fund of Tk 2,000 crore has been formed for the fisheries sector through Bangladesh Bank. Now discussions are underway on how and through what process the money will be allocated.”

Tariqul Islam Zahir said, “We do not have the opportunity to buy land and invest. Therefore, if the government leases land, we will invest there and work to increase production. According to the plan, traders will invest in field-level farmers with all kinds of logistical facilities and farmers will be assured that traders will buy the products they produce from them. Otherwise, it is not possible to improve the shrimp sector.”

He also claimed that the sector could turn around if the 7,000 acres of land announced for shrimp farming in Cox’s Bazar were allocated to genuine traders.

It is known that earlier there were 122 companies in the country involved in the export of shrimp and fishery products, but now it has reduced to only 30-35. Some of the remaining ones have closed down, while some have rented out their factories. However, the annual production capacity of these factories was more than four hundred thousand tons.

Currently, various types of shrimp are cultivated on a total of 262,980 hectares of land in the country.

It is noteworthy that although the per hectare production of Benami shrimp is 10-12 times higher than that of Bagda, it has not yet been possible to produce this variety of shrimp in the country. As a result, Bangladesh’s export sector remains largely dependent on Bagda exports.

Meanwhile, as traditional farming methods continue, per hectare production of bagda is also gradually decreasing.

According to those involved in the sector, even though good prices are available in the domestic market, to sustain the shrimp industry in the global market, it is now the need of the hour to move away from traditional farming methods, formulate government policies on a large scale, and ensure benami farming.