Shrimp Leads the Export Surge

Of the total export earnings in FY 2024-25, Tk 2,499 crore (USD 206.5 million) came from 19,512.79 tonnes of shrimp exports alone, up from 15,450.97 tonnes in FY 2023-24, which earned Tk 1,744 crore (USD 144.1 million).

Meanwhile, export earnings from other fish varieties rose from Tk 402 crore (USD 33.2 million) for 9,745.78 tonnes in FY 2023-24 to Tk 610 crore (USD 50.4 million) for 15,363.58 tonnes in FY 2024-25.

Species-wise Earnings Breakdown

The detailed breakdown for FY 2024-25 includes:

• Galda / Freshwater Giant Prawn: Tk 734.50 crore (USD 60.7 million) from 4,282.14 tonnes
• Bagda / Black Tiger shrimp: Tk 1,691.69 crore (USD 139.8 million) from 13,963.11 tonnes
• Soft shell Crab: Tk 173.27 crore (USD 14.3 million) from 1,166.89 tonnes

By comparison, in FY 2023-24:

• Galda shrimp exports brought in Tk 420.43 crore (USD 34.7 million) from 2,883.30 tonnes
• Bagda shrimp earned Tk 1,311.21 crore (USD 108.4 million) from 11,336.54 tonnes
• Soft shell Crab exports were Tk 97.87 crore (USD 8.1 million) from 644.77 tonnes

Challenges Holding Back Production

Despite the growth, the sector has faced several persistent hurdles — a decline in brackish water sources, virus outbreaks, lack of SPF (disease-free) shrimp fries, and farmers’ reluctance to adopt modern techniques. According to industry estimates, these challenges have caused production shortfalls that deprived the country of USD 25–41 million (Tk 300–500 crore) in potential export earnings.

Adding to the pressure, rising feed prices have increased input costs for farmers, further impacting profitability.

Government Support Fuels Renewed Hope

The government has been taking proactive steps, including promoting cluster farming methods, vannamei shrimp cultivation, environment-friendly aquaculture, and massive farmer training and incentives.

Farmer testimonies reflect growing optimism. Harun-ur-Rashid from Koyra Upazila credits the adequate rainfall and government virus prevention efforts for improved yields. Sheikh Mahtab Uddin from Dumuria noted that training programs, quality feed, and natural water bodies have helped increase fish production.

Previously, political interference and land grabbing disrupted shrimp farming activities in many areas. However, with improved governance and proper government action, farmers are returning to the business.

A Sector at a Crossroads

Inspector Lipton Sarder from the Khulna FIQC office noted that while shrimp production has been declining nationwide over the past five years, recent government steps have started reversing the trend. He emphasized the importance of cluster method aquaculture and the adoption of modern, sustainable farming practices.

Industry leader Sheikh Abdul Baki of Oriental Fish Processing Industries highlighted that quality inputs, natural water resources, and cluster farming are key to future success.

According to Md Zahangir Alam, Deputy Director of the Khulna Fisheries Department, the production and export of all categories — white fish (freshwater fishes), Galda, Bagda, and crabs — have increased notably in FY2024-25.

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Speaking at a review meeting of the Animal Resource Development Department for the 2025–26 fiscal year, Minister Das emphasized that Tripura’s domestic fish production, supplemented by imports from Andhra Pradesh and West Bengal, is more than sufficient to meet current consumption needs.

“Even if fish imports from Bangladesh stop, there will be no issue. We are producing enough fish locally and also importing from West Bengal and Andhra Pradesh. This covers 100% of our demand,” said the minister.

The comments come amid a recent ban by the Indian central government on the import of six items from Bangladesh via land routes. Though fish was not directly listed, trade disruptions at the Akhaura land port in Brahmanbaria have affected seafood exports from Bangladesh to India’s northeastern states, including Tripura.

The minister also highlighted that Tripura has not been actively importing fish from Bangladesh, despite media reports citing suspended exports through Akhaura.

During the meeting, Das reviewed budget utilization and departmental performance for the past fiscal year and laid out priorities for achieving self-sufficiency in milk, eggs, meat, and animal healthcare under the Animal Resource Development (ARD) framework.

According to Das, 99% of the previous year’s budget was successfully utilized, and district-level meetings are already underway to implement new development strategies.

This statement from Tripura’s top fisheries official hints at a growing regional shift toward self-reliant aquaculture and livestock management, potentially signaling longer-term changes in cross-border seafood trade dynamics with Bangladesh.

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According to Md. Faruk Mia, General Secretary of the Fish Exporters Association, although the Animal Quarantine Authority in Delhi had cleared the shipments, the Export Authorization Permit (EAP) from local banks was not issued in time, halting fish-laden trucks for the day.

“The issue was purely procedural. The EAP is now resolved, and fish exports are expected to resume as usual from Thursday (May 22),” Faruk Mia confirmed.

On average, Bangladesh exports frozen fish worth approximately USD 100,000 daily to Agartala via the Akhaura land port. The sudden disruption caused concern among exporters who rely on this route for regular trade.

The situation was further complicated by a recent import ban imposed by the Indian government on six specific products entering India by land, which has already slowed operations at the port. Though fish is not directly included in that ban, the ripple effect has disrupted the port’s usual activity.

Mahmudul Hasan, Assistant Director of Akhaura Land Port, confirmed the pause in fish shipments and added, “No trucks carrying fish entered the port on Wednesday, but exports of other goods like cement and edible oil are continuing as usual.”

Exporters now hope the resumption of fish shipments on May 22 will restore normal trade flow, especially ahead of the busy seafood demand season across the border.

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According to the Bangladesh Export Promotion Bureau (EPB), frozen and live fish exports, including shrimp, rose by 14.45% in the first eight months (July–February) of FY2024-25, reaching USD 316.2 million. Of this, shrimp exports alone surged by 17.06%, hitting USD 215.9 million. February marked a particularly strong month, with export growth of 23.25%. Bangladesh’s main export destinations are mostly UK and EU countries.

The upward trend has continued for six consecutive months, from September to February. Despite this, many processing plants in key hubs, Khulna and Chattogram remain closed due to a shortage of raw materials, financial constraints, and high operational costs.

Industry leaders state that the sector was severely disrupted during student protests in July–August last year. Yet, EPB data suggests that shrimp exports have been gradually increasing since the fall of the previous government.

Recently elected as the Senior Vice President of the Bangladesh Frozen Foods Exporters Association (BFFEA), Md. Tarikul Islam Zaher, Managing Director of Achia Sea Foods, said:

“We’re getting a significant volume of export orders, and global demand for shrimp has risen considerably. However, the raw material shortage poses a serious threat to sustainable growth.”

Zaher added that most shrimp producers are struggling due to multiple challenges, resulting in the shutdown of many processing factories. Of BFFEA’s 200 member companies, only about 25% are currently operational, while 75% have suspended activities.

Even in Khulna, where nearly 30 factories remain technically open, only 10–12 are functioning steadily. The situation in Chattogram is reportedly just as grim.

Mixed Performance Among Listed Shrimp Exporters

While the export numbers show positive signs, the financial performance of publicly listed shrimp companies on the Dhaka Stock Exchange (DSE) tells a mixed story.
Apex Foods, one of the largest listed exporters, saw its revenue drop by 2% and profits decline by 20%, according to unaudited financials. Meanwhile, Gemini Sea Foods suffered substantial losses due to reduced revenue and shrinking profit margins.

Calls for Policy Support

Exporters and processors are urging the government to extend financial incentives, improve infrastructure, and offer policy support to help smallholder farmers restart operations. Industry insiders believe such measures will not only sustain the current growth momentum but also enhance overall export earnings.

European and Middle Eastern markets are showing robust demand, and Bangladesh could significantly increase its seafood exports with the right support. However, the shortage of shrimp seed and raw material remains a critical bottleneck.

Focus on Vannamei Shrimp

Sheikh Kamrul Alam, Managing Director of Rupali Sea Foods Ltd. and BFFEA Vice President, blamed the previous government’s restrictive policies for factory closures. Still, he remains optimistic about the future, especially with the growing interest in Vannamei shrimp farming.

“Vannamei shrimp is highly profitable for processors, but approval for farming was delayed. Now that it’s been allowed, we’re seeing encouraging results,” Kamrul said.

Vannamei shrimp—also known as Whiteleg shrimp or Pacific white shrimp—originates from the Pacific coasts of Mexico and Central/South America. In Bangladesh, trial farming began in 2021 under the Bangladesh Fisheries Research Institute (BFRI) in Paikgacha, Khulna.

Following early success, the government authorized 12 companies to commercially farm Vannamei in 2022. These ventures have reported promising yields, signaling a bright future for commercial Vannamei farming in Bangladesh.

Kamrul added,

“Vannamei can yield 8,000–10,000 kg per hectare, compared to just 1,000 kg from traditional Bagda farming (Black Tiger shrimp). If we invest in production and scale up, shrimp exports can skyrocket, significantly boosting the country’s foreign exchange reserves.”

While vannamei shrimp may seem like a promising addition to Bangladesh’s aquaculture export basket, the reality on the ground tells a different story. Bangladesh’s shrimp sector is still heavily dependent on extensive aquaculture, where average Black Tiger shrimp (P. monodon) yields are less than 300 kg per hectare.

Even after years of commercial farming, local Monodon hatcheries continue to fall short of the mark—lagging in traceability, technical standards, and the consistent production of quality post-larvae (PL). As a result, the sector relies heavily on wild-caught PL to fill the demand gap, a practice that’s further depleting the country’s already stressed natural shrimp stocks.

On top of that, a large portion of Bangladesh’s shrimp farmers are smallholders who are deeply accustomed to the low-input, low-cost farming practices of native Black Tiger shrimp. For these farmers, transitioning to vannamei—which demands higher biosecurity, hatchery-sourced SPF stock, commercial feed, and controlled water systems—is not only unfamiliar but also financially burdensome. Without significant support systems and reliable inputs, it’s unlikely these farmers will be able to adapt quickly or sustainably.

In this context, if we haven’t been able to build a resilient and sustainable system around our native species after many decades of commercial farming, it’s unrealistic to assume we can suddenly succeed with vannamei—a species that demands far stricter management, infrastructure, and compliance.

And beyond our borders, the vannamei shrimp market is already intensely competitive and nearing saturation. Countries like India, Ecuador, Vietnam, and Indonesia—who are decades ahead in vannamei farming—are dominating global supply chains with economies of scale, integrated systems, and strong government support. Bangladesh, by contrast, is just starting out, with no foothold yet.

So the question remains—should we chase a crowded market we’re not ready for, or double down on our strength?

Vannamei of course hold the long-term potential, but in the present context, betting big on Black Tiger shrimp remains the most strategic, realistic, and sustainable path forward—for both the industry and the tens of thousands of farmers who rely on it for their livelihoods.

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A Market That Runs Like Clockwork

As the first rays of sunlight illuminate the market, trucks from Cox’s Bazar hatcheries roll in, carrying millions of Bagda shrimp fry or Black Tiger (P. monodon) shrimp PL (Post-larvae). Within minutes, a crowd of traders, farm owners, and transporters gathers, ready to strike deals before the heat of the day sets in. The demand is immense, with buyers from Shyamnagar, Ashashuni, Debhata, Kaliganj, Tala, and even Khulna’s Paikgacha and Koyra securing their stock.

A single truck typically carries 2.5 to 2.7 million fry, and on any given day, 12 to 14 trucks arrive. By the time the market shuts down, transactions easily exceed $90,000. In peak seasons, sales can surge to over $250,000 per day as demand rises.

Fueling Bangladesh’s Shrimp Industry

Shrimp farming is a lifeline for hundred thousands of farmers in Bangladesh, and securing high-quality fry is the first step to a successful harvest. Farmers must carefully time their stocking cycles, preparing their ponds between November and December, and introducing fry from late December to October of next year. To maintain optimal production, farmers restock their enclosures every three weeks, with harvests beginning after 60 to 70 days.

“The entire industry depends on the availability of quality fry,” says Kazi Anisur Rahman, a local shrimp farmer. “A delayed or poor-quality batch can set farmers back for an entire season.”

Buyers vary in scale—from small-scale farmers buying 10,000 to 20,000 fry per trip to large aquaculture enterprises purchasing fry in bulk. Prices fluctuate based on demand but generally range from $3.50 to $4 per thousand fry.

The Backbone of a Growing Industry

The Satkhira Shrimp Fry Traders’ Association traces the market’s origins back to 1995-96, when shrimp farming first gained momentum in the region. Over the years, however, the physical space for the market has shrunk, forcing buyers and sellers to work efficiently within the two-hour window.

Despite these limitations, the trade continues to grow. During peak seasons, additional fry are flown into Jessore via cargo flights, before being trucked to Satkhira, significantly increasing both supply and prices.

According to the District Fisheries Office, Satkhira is home to 65,536 hectares of Bagda shrimp farms, requiring an estimated 3.2 to 3.5 billion shrimp fry annually. While most fry come from hatcheries in Cox’s Bazar, some are still sourced naturally from Sundarbans and other estuarine ecosystems.

The Road Ahead

Bangladesh’s shrimp exports falling in international markets overt the years due to low production in the country, so the demand for high-quality shrimp fry will only increased even more. Its mandatory to ensure the genetic strength of hatchery fry, maintaining sustainability in sourcing, and expanding market infrastructure to meet growing needs in the international level.

For now, though, Satkhira’s two-hour shrimp fry market remains a testament to the speed, precision, and resilience of Bangladesh’s thriving aquaculture industry.

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New Horizons for Black Tiger Shrimp Exports

Bangladeshi shrimp sector, long recognized for producing premium-quality black tiger shrimp (locally known as “Bagda”), has captured the interest of Chinese investors. Notably, Cheng Ma, co-founder of Dhaka-Taka (Beijing) Trading Corporation Ltd., is spearheading this interest, with plans to invest in shrimp farming and processing. This collaboration could enhance shrimp exports from Bangladesh to meet the growing demand in China, where consumers spend approximately $2 billion on black tiger shrimp annually.

During his recent visit to Khulna, a prominent shrimp-producing region, Cheng Ma observed local farmers using natural feeding methods and traditional lunar cycles to raise shrimp, distinguishing Bangladeshi black tiger shrimp as a premium product in the global market. He aims to modernize local shrimp farming with technology like solar-powered stations, aiming to improve efficiency and reduce costs for Bangladeshi farmers.

Expanding Production and Export Potential

Bangladesh’s shrimp industry plays a pivotal role in its economy, with around 180,000 hectares dedicated to shrimp farming, primarily in the southern region. Currently, 59% of Bangladesh’s shrimp exports are destined for the European Union, but the duty-free access to China is expected to boost overall exports and expand market diversification for Bangladeshi shrimp.

The Export Promotion Bureau (EPB) has highlighted the increasing global footprint of Bangladesh’s shrimp sector, driven by quality processing facilities across the country, including 40 hatcheries in Cox’s Bazar and 24 shrimp processing plants nationwide. The anticipated rise in exports will not only strengthen Bangladesh’s economy but also create enhanced employment opportunities for local communities dependent on shrimp farming.

Heritage Certification and Sustainable Development

In 2022, Bangladesh achieved heritage certification for black tiger shrimp, underscoring its premium status on the international market. This certification complements efforts to position Bangladeshi shrimp as a top choice for global consumers, especially with growing demand in China. However, attaining premium pricing will require adherence to traceability standards, sustainable farming practices, and eco-friendly processing methods to ensure minimal environmental impact.

Dual Paths for Bangladesh’s Shrimp Industry

As Bangladesh’s shrimp industry grows, stakeholders are considering two paths: expanding production of Vannamei shrimp for volume or focusing on Monodon shrimp as a high-value, natural product. The decision will significantly impact future trade dynamics, environmental sustainability, and market positioning in the global seafood sector. Industry experts emphasize the need for close collaboration between policymakers, investors, and development partners to maximize the sector’s potential.

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According to fisheries officials, Bangladesh typically catches around 5.5 to 6 lakh tonnes of hilsa annually, with about 60% of the catch coming from the Bay of Bengal and the remainder from rivers. However, this year, fishermen are struggling with reduced catches in the sea, causing a significant supply shortage.

In previous years, the government allowed 3,000 to 5,000 tonnes of hilsa exports during Durga Puja, but this year, a ban was imposed to address the domestic scarcity, said Nripendra Nath Biswas, deputy director of the Barishal Divisional Fisheries Office.

At Barishal’s Port Road Hilsa Market, the largest wholesale hub for hilsa, prices are significantly higher than last year. A 1.5 kg hilsa is selling for around $15, while a 1.2 kg fish is priced about $13.45, and a 1 kg fish costs around $12.61. These prices are $1.26–$1.68 higher compared to last year.

Traders report high demand for hilsa from major cities like Dhaka, Chattogram, Rajshahi, Khulna, and Sylhet, but the insufficient supply has driven prices up. Fisherman Hossain Miah from Bhola Sadar upazila explained that poor weather conditions forced them to abandon multiple fishing trips, leading to reduced catches. Another fisherman, Jahangir Hossain from Bakerganj upazila, noted that fishing costs have risen to $170 for a five-day trip, up from $126-$134 last year.

The Bangladesh Fisheries Development Corporation (BFDC) reported 152 tonnes of hilsa traded in the 2023-2024 fiscal year, but only 25 tonnes have been traded in the current fiscal year. Fisheries officials remain optimistic that hilsa availability will improve in the coming weeks, which could help lower prices.

With high demand, reduced supply, and increased costs, hilsa prices remain elevated, causing frustration for both fishermen and consumers across Bangladesh.

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Fishermen, who should be reaping the benefits of the season, are returning with disappointingly small catches. As a result, prices have surged, and even Khulna’s largest hilsa traders at the well-known 4 Number Ghat have reported a significant decline in stock.

Abu Sayed, a fourth-generation hilsa trader, highlighted the severity of the situation, noting that this season has been unlike any other. He shared that only 3-4 maunds (40 kg makes maund) of fish are arriving daily, compared to the typical 200-300 maunds.

The Khulna Fisheries Department has attributed the scarcity to reduced river depths and insufficient rainfall, which have prevented the fish from entering the rivers in their usual numbers.

In local markets, the scarcity is evident in the pricing. Hilsa weighing 500-600 grams is currently being sold for Tk 1,000 to Tk 1,200 per kilogram, while larger fish, weighing up to 1.3 Kg, are fetching up to Tk 2,200 per kg. Retailers express concern that at these prices, selling fish has become unprofitable.

Consumers, like Manoj who visited Nirala Market, are frustrated by the situation. He expressed his disappointment, saying, “This year, I haven’t been able to buy hilsa for my children. The prices are just too high.”

As the shortage continues, both consumers and traders in Khulna are anxiously waiting for an improvement in the situation, hoping for better catches in the near future.

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Chandpur Fish Landing Ghat, a well-known fish landing point located near Boro Railway Station, has seen an influx of larger hilsa consignments from southern districts. The increased supply has led to a bustling market environment, with daily arrivals reaching at least 1,000 maunds of hilsa brought in by trucks, pickups, and trawlers.

During a recent visit, it was observed that the price of a one-kilogram hilsa has dropped to Tk 1,500 from the previous Tk 1,800. Meanwhile, the coveted Padma River hilsa is now being sold at Tk 1,600 per kilogram, down from Tk 1,900.

The majority of the hilsa supply comes from southern regions such as Bhola, Luxmipur, Ramgati, Borguna, and various islands, according to traders at the ghat. This surge in supply has also provided much-needed work for local laborers who were previously facing idle periods.

In addition, ice factories near the ghat have ramped up production to meet the demands of the increased fish consignments. The distribution of hilsa from Chandpur to distant districts like Dhaka, Gazipur, Sylhet, and others has also seen a notable rise.

Local customers, including Shah Alam and Mostafa, have expressed satisfaction with the more affordable hilsa prices, which now fit within the budgets of lower and middle-income groups. The online sale of fresh hilsa has also surged, according to traders like Sajib Kr Das and others.

The Fish Merchants’ Association reports that approximately 100 packs of hilsa and other fresh fish, valued at about Tk 0.5 million, are being dispatched daily to various locations via private courier services. Over the past few days, fish parcels worth around Tk 1.0 million have been sent to distant areas through these services and by bus, underscoring the growing demand for hilsa across the country.

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Shrimp used to hold the position of being the second-largest export product contributing to foreign exchange earnings in Bangladesh. Spread across 1,52,496 hectares of land, shrimp cultivation heavily relies on fry supplied by hatcheries, particularly those in Cox’s Bazar, catering to regions such as Satkhira, Khulna, and Bagerhat.

Broodstock, sourced from the deep sea by ships, serve as the foundation for fry production. However, in March, the harvest yielded fewer than 5,000 broodstock. It was about 20-34 thousand by 40 ships during this time earlier. Each mother shrimp has the potential to yield up to 60,000 fry.

The Shrimp Hatchery Association of Bangladesh (SHAB) Secretary General, Mohammad Najibul Islam, reported that despite setting a target of 500 million fry, only 250 million were produced by Cox’s Bazar’s 30 hatcheries. This shortfall has led to market crises, with many resorting to the illegal sale of low-quality fry.

Recent observations at Balaka Hatchery in Sonarpara revealed a specialized production process for fry from mother shrimp. Despite efforts, the hatchery fell short of its target of producing 110 million fry, managing only 52 million due to the broodstock shortage.

The production cost per hatchery has surged, now standing at $0.005. Transporting each “fry” to Satkhira via cargo plane costs $0.0012 totaling $0.0057 per fry. However, the market is flooded with low-quality disease prone fry priced at $0.0027 to $0.0032, resulting in losses for hatcheries.

Mother shrimp take 30 days to hatch from eggs, and within 25 days, the fry must be released into the enclosure. Hatchery managers, like Md. Alamgir of Kalatali Beach Quality Shrimp Hatchery, have been purchasing mother shrimp at additional costs to sustain fry production despite rising expenses.

Concerns over the hatchery’s vulnerability to high temperatures have prompted the use of cargo aircraft for swift fry delivery from Cox’s Bazar to Khulna-Satkhira. However, the reduction in available cargo planes from four to two has disrupted transportation, resulting in increased shrimp-fry mortality during lengthy road journeys.

SHAB President Ashek Ullah stressed the importance of timely supply of quality fry to sustain Bangladesh’s shrimp industry, which annually contributes over 3000 crores to foreign exchange earnings. Efforts are underway to address the shortage of mother shrimp and control shrimp diseases, ensuring the industry’s stability and growth. District Fisheries Officer, Badruzzaman, highlighted ongoing initiatives in this regard.

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