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Shrimp exporters eye better days

Bangladesh's competitors face US duty

Suman Saha
Shrimp exporters eye better days ahead as the US, the second largest importer of Bangladeshi shrimps, has imposed additional duties on imports from five of Bangladesh's competitors, including India and Vietnam.
"Our exports to the US will rise significantly, both in terms of volume and price, due to the move," said Md Amin Uliah, president of Bangladesh Frozen Food Exporters Association.
The US Commerce Department on Tuesday imposed the countervailing duty, ranging from 4.52 percent to 54.5 percent, on shrimp imports from India, China, Vietnam, Malaysia and Ecuador as these countries give huge subsidies to their farmers.
The Coalition of Shrimp Industries, a platform of shrimp farmers and processors in several southern US states, filed a petition last year asking the federal government for import relief.
"US traders will now look for alternative sources like Bangladesh," Amin said.
"Even if we raise our prices by 5-10 percent, we will still enjoy a competitive advantage as our prices will remain below what our competitors
will have to offer after the duty imposition."
Bangladeshi exporters now charge $7.50 for each pound (16-20 pieces) of black tiger shrimp in the US market, said Amin, adding that the price might increase up to $8.
Ashim Kumar Barua, director of Apex Foods Ltd, which exports mainly value added shrimp products to the US market, also echoed the same.
Exports of Bangladeshi black tiger may rise further as production of vannamei shrimp fell globally, he said.
"This will help us gain a cost advantage up to $1.5 each kg," Barua said.
Apex Foods earned around Tk 100 crore from shrimp exports to the US market last fiscal year, while its total exports were worth Tk 330.57 crore, he said.
Bangladesh's shrimp exports have been on the rise since June as demand from the US and Europe increased because of a production fall in some major exporting countries.
Shrimp exports rose by 33.91 percent to $56.55 million in July compared to the same month a year ago, according to Export Promotion Bureau data.
Shrimp exports fell short by around $90 million from the target at $545.23 million last fiscal year due to price fluctuation on the international markets, exporters said.
Around 35 percent of the total shrimp exports go to the US market, while the EU accounts for around 45 percent, and Japan, Russia and other countries the rest, according to Amin of the exporters' association.
Shrimp exports were never covered by any duty benefit such as generalised system of preferences of the US, he added.
Shrimp exporters eye better days
FROM PAGE Bl
Shrimp exports to the US had been on a decline for the last few years as Bangladesh could not compete with the countries who offered lower prices, said Kazi Belayet Hossain, managing director of Sobi Fish Processing Ltd, a leading exporter.
Recession in the US had also put a bad impact on Bangladeshi shrimp exports, he said, adding that Bangladeshi exporters will now grab more orders from the US importers.
At present, shrimp is cultivated on 217,000 hectares in the coastal zone, mainly the southwest, and sweet water shrimps are grown on 30,000 hectares.
Bangladesh now exports around 50,000 tonnes of shrimp a year, Amin said.
suman.saha@thedailystar.net