In a press conference held at Matsya Bhaban on the occasion of National Fisheries Week-2023, he said, “By 2041, the government plans to produce 8.5 million tons of fish, almost two times more than current production.”

Bangladesh, however, has achieved several remarkable successes in the present days. There has been a six-fold increase in fish production in Bangladesh over the past 38 years. The fisheries sector’s GDP grew by 5.74 percent. It contributes 3.57 percent to the country’s total GDP and 26.50 percent to its agricultural GDP.

Fish and fisheries products from Bangladesh are exported to 52 countries and the government received US $422.28 million from exports in fiscal year 2022-2023. The fisheries sector employs more than 19 million people directly or indirectly.

In order to achieve this remarkable success, the government has taken several effective initiatives. “The government has taken a number of steps to ensure that the fish produced in the country is safe to consume,” said the minister.

Furthermore, the minister provided assurances regarding the increase in fish production. “The smart fisheries sector will use innovative technology in the processes of production, marketing, processing, and exporting and the ministry is working towards contributing most to the development of a smart Bangladesh,” he added.

However, the government had previously built laboratories of international standards in the country in order to produce and export healthy and safe fish. Furthermore, the government provides agricultural loans with easy terms and low-interest rates to those who wish to pursue the versatile use of fish. To increase the country’s fish production, the government is working on both conventional and non-conventional approaches.

“Previously, we were focused on increasing fish production, but now we are focused on creating a “smart Bangladesh” through increased healthy and safe fish production,” said Rezaul.

In terms of freshwater fish production, Bangladesh currently ranks third in the world. The country is the largest producer of Hilsa (currently, 571 thousand metric tons of Hilsa are produced). A total of 500,000 tons of this national fish have been produced in the last 12 years, an increase of more than twice. It is the world’s leading producer of Hilsa. It is estimated that Bangladesh produces 80 percent of the total amount of Hilsa.

The minister is hoping that with the help of new initiatives from the government, fish production will achieve new milestones by 2041.

Bangladesh’s fisheries sector continues to contribute significantly to the food and nutrition security of both vegetarian and non-vegetarian products, entrepreneurship, job creation, poverty alleviation, and the rural economy of the country. The increase in production will undoubtedly improve the economic progress and prosperity of rural areas.

Jaber Bin Abdul Bari
Department of Oceanography, NSTU

The post Government sets ambitious aims to double the fish production by 2041 appeared first on Seafood Network BD.

India’s seafood business has grown to become one of the world’s primary providers of high-quality seafood to over 100 countries. Furthermore, during the fiscal year 2021-22, the industry set a new high for Seafood Exports.

In 2021-22, India shipped 13,69,264 MT of seafood worth US$ 7.76 billion (Rs 575.86 billion), an all-time high in terms of value, while shrimp production exceeded one million MT. Frozen shrimp remained the most important export item in terms of number and price, contributing to 53% of total income and 75% of total volume.

However, during FY 2022-23, exports increased by 26.73% in quantity, 11.08% in rupees, and 4.31% in US dollars.

As per a press release from the Ministry of Commerce and Industry, frozen shrimp stayed the most important exporting item on the basis of both volume and value, while the United States and China emerged as India’s top buyers.

Frozen shrimp, which generated Rs 43,135.58 crore (USD 5481.63 million), remained the most important item in the entirety of seafood exports, contributing to 40.98 percent of overall dollar profits and 67.72 percent of total volume. The export of shrimp climbed by 1.01 percent in rupees throughout the period.

Frozen fish, the second most valuable exported commodity, brought in Rs 5,503.18 crore (USD 687.05 million), making up 21.24 percent of all exports and 8.49 percent of total dollar revenues. This year, frozen fish exports climbed by 62.65%, 58.51%, and 45.733% in terms of quantity, rupees, and dollar value, respectively.

Under Other commodities, the third highest export category at US$ 658.84 million included canned food worth Rs. 326.48 crore (US$ 41.56 million), frozen lobster worth Rs. 215.15 crore (US$ 27 million), and other products.

Frozen squid, the fourth most valuable export item, earned Rs 3593.75 crore (US$ 454.61 million), which represents 4.83 percent of total volume and 5.62 percent of total US dollar revenues. Frozen fish exports climbed by 28.07% in Rupee value and 18.58% in US dollar value.

The United States, China, and the European Union are major markets for Indian seafood. Southeast Asia is the world’s fourth largest market for India.

D.V. Swamy, chairman of the Marine Products Export Development Authority (MPEDA), expressed optimism about reaching new heights through a multifaceted strategy based on environmentally friendly fishing techniques, added value, elevated production from aquaculture through diversification, and aggressively entering new markets.

“Furthermore, the reduction in customs duty on substances used in the manufacture of aquatic feed, including fish lipid oil, fish meal, Krill meal, mineral premix, and vitamin premix, will assist in lowering production costs, offering an economic advantage to all interested parties in the fish farming industry,” Swamy said.

India has a coastline of over 8,118 kilometers, an EEZ of 2.02 million square kilometers, and a land area of 0.5 million square kilometers. The continental shelf is expected to hold 4.41 million tons of economic resources, of which around 3.40 million tons are currently exploited.

Furthermore, India possesses superior seafood processing plants that adhere to rigorous international rules and regulations, transforming India into the world’s third-largest fish producer, second-largest aquaculture producer, and fourth largest seafood producer.

Jaber Bin Abdul Bari
Department of Oceanography, NSTU

The post India’s seafood exports set new benchmarks in 2022-23 appeared first on Seafood Network BD.