During the first five months of the current Iranian calendar year (March 20-August 21), the country exported 68,000 tons of fishery products, totaling $138 million. This represents a 32% year-on-year increase in terms of export volume.

The expansion isn’t limited to shrimp. Iran’s overall fishery exports have shown substantial growth, with a notable 40% rise in export weight during the first quarter of the year compared to the previous year. In total, 73,369 tons of fishery products worth $121.4 million were exported in the first quarter alone.

IRICA also reported that Iran’s fishery exports exceeded $310 million in the last Iranian fiscal year, marking a 3% increase from the previous year. Shrimp exports played a significant role, contributing $98.5 million, or 32%, of the total export value. Despite a slight dip in shrimp export value, with a 26% decline from the previous year, Iran continues to dominate regional markets, with Russia, the UAE, and China as major destinations.

The success of Iran’s aquaculture industry has positioned the country as a regional leader, with the United Nations Food and Agriculture Organization (FAO) recognizing Iran’s pivotal role. The country’s aquaculture advancements, particularly in caged fish farming, are setting benchmarks for other nations in the region.

In light of these developments, Iran is doubling down on its fishery sector. New ventures, including the creation of a value chain for caged fish farming in the Caspian Sea region, are underway. These initiatives aim to enhance production capabilities, focusing on technological upgrades, improved farm management systems, and the development of value-added products from fish waste.

One notable innovation is the introduction of nanobubble generators by a knowledge-based Iranian company. These machines, which enhance oxygen and gas dissolution in water, are expected to boost fish farm productivity and improve the quality of farmed fish. The technology is also energy-efficient, reducing electricity consumption by up to 70%.

With continued investment and innovation, Iran’s fisheries sector is poised for even greater growth, making a mark on global markets and solidifying its role as a model for aquaculture development.

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In the fiscal year 2023-24, the export value of fish and fisheries products from Khulna dropped by approximately USD 56.46 million. The fisheries inspection and quality control office in Khulna reported that only 41,000 tonnes of fish and related products, valued at USD 179.01 million, were exported during this period.

In comparison, the 2021-22 fiscal year saw the Department of Fisheries in Khulna, Satkhira, and Bagerhat exporting 33,271 tonnes of shrimp, white fish, and other fisheries goods, generating around USD 247.13 million. However, in the 2022-23 fiscal year, exports dropped to 28,316 tonnes, worth approximately USD 235.59 million, and further decreased to 25,196 tonnes in the 2023-24 fiscal year, with a value of USD 178.89 million.

The Khulna region has experienced a significant decrease in shrimp and white fish exports, with a reduction of 3,120 tonnes and USD 56.46 million compared to the previous fiscal year. Additionally, shrimp farming has declined across Khulna, Bagerhat, and Satkhira over the last five years.

Black Tiger shrimp (P. monodon) farming in saline water in Khulna has decreased from 36,151 hectares in the 2018-19 fiscal year to 32,383 hectares in the 2023-24 fiscal year. Similarly, Giant Freshwater prawn or Galda (M rosenbergii) farming in freshwater has decreased from 20,034 hectares to 19,016 hectares over the same period. This reduction in shrimp farming has resulted in a decrease of at least 3,500 tonnes of shrimp production.

Khulna Fisheries Officer Joydev Paul explained that the decline in global demand and value for shrimp has led many farmers to sell their products in local markets, where small-sized shrimp fetch higher prices than in international markets.

Lipton Sarder, a Fisheries Inspection and Quality Control officer, noted that the region also exports white fish such as Vetki (Barramundi), Pabda (Butterfish), Tengra (small catfish) and Parshe (Mullet) alongside shrimp. However, the global economic recession and ongoing conflicts have decreased the demand and value of these exports, further affecting the income from shrimp and fisheries exports.

Despite the challenges, 20 to 25 organizations continue to export regularly, though only 41 licensed exporters remain active. Mofidul Islam, a frozen shrimp exporter in Khulna, mentioned that frozen shrimp factories are struggling due to the shortage of Galda and Tiger shrimp, while operational costs, including wages and electricity bills, remain high.

Professor Amir Hossain (Rtd.), a resident of Bagerhat, pointed out that increasing salinity in water due to rising sea levels and cyclone-induced floods in southern Bangladesh has further hindered shrimp farming.

Humayun Kabir, Director of the Bangladesh Frozen Foods Exporters Association (BFFEA), stated that export-oriented shrimp factories are currently receiving only a quarter of the fish needed to meet global market demand.

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Furthermore, Vietnam’s shrimp exports have increased this year due partly to the expansion of minor markets. Vietnam so hopes to generate between US$4 and US$4.3 billion in shrimp export revenue this year.

In 2023, Vietnam’s shrimp exports were approximately $3.38 billion, a 21.7 percent decrease from the previous year. This drop is driven by reduced global market demand and increased competition from nations such as Ecuador and India.

However, it is anticipated that the shrimp export sector will generate between $4 and $4.3 billion in revenue this year. In the meantime, Vietnam’s shrimp exports made $242 million in January 2024; a 71% increase over the same month the previous year. In certain areas, the cost of raw shrimp also increased in January of this year.

Exports of black tiger and white leg shrimp increased by double digits, while the value of exports of other shrimp varieties increased by triple digits. Products made from frozen or fresh shrimp grew more rapidly than those made from processed shrimp.

In 2024, the US and China will still be the two biggest destinations for Vietnamese shrimp exports, making up between 40 and 45 percent of the export value of the shrimp sector.

Vietnam’s major market for shrimp consumption is the US, which accounts for around 20% of the country’s total export value. 

Shrimp exports to the United States increased by 77% to $41 million in January 2024, continuing an upward trend that began at the end of 2023. Forecasts indicate that demand will only increase starting in the first quarter of this year.

Due to higher inventory in the EU market and the unlikely improvement of the Japanese Yen/US dollar exchange rate this year, FPT Securities predicted that demand in the EU and Japanese markets will rebound a quarter later than in the US market.

However, In the first month of this year, shrimp exports to Japan and South Korea grew by 30% and 21%, respectively, to $37 million and $23 million.

Furthermore, shrimp shipments to the EU increased 22% in the first month of this year, reaching $30 million.

Meanwhile, China is probably going to draw in more companies this year that export shrimp from Vietnam due to its close proximity, inexpensive shipping, and simpler regulations.

Moreover, Ecuador’s unstable security situation, coupled with increasing transportation challenges and expenses, would undoubtedly result in a decrease in supplies to China which will ultimately benefit Vietnam.

Therefore, China will need to import more shrimp from Vietnam and other Asian nations.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, to increase the value of shrimp and ensure the long-term development of the shrimp industry, localities, particularly the Mekong Delta provinces, must focus on developing high-quality seed sources to ensure proactive production, reduce production costs, and limit disease transmission. At the same time, investment is required to improve the infrastructure system for the expansion of agricultural areas and logistics, as well as to promote green production, low emissions, and the use of digital technologies in aquaculture.

Jaber Bin Abdul Bari
Department of Oceanography, NSTU

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The Indian shrimp industry received an additional boost when it began farming the Vannamei shrimp. As a result, the shrimp sector contributes significantly to India’s entire seafood basket.

However, the Indian shrimp industry has taken a severe hit and lost its crown. India, formerly the world’s leading shrimp exporter, is now fighting to regain its prior status.

A variety of factors have contributed to this tremendous setback.

The epidemic dealt a catastrophic $1.5 billion hit to India’s shrimp industry. During 2020-21, shrimp exporters were drowning in excess stock due to an unexpected oversupply caused by supply chain snarls.

The industry’s troubles were exacerbated by decreasing appetites for shrimp as a result of lockdowns and eating restrictions. As a result, shrimp prices fell to the ground.

Although shrimp prices began to rise in FY24, they remain beneath pre-pandemic levels.

However, India’s export value is declining. While export volumes have not yet declined, the year-total export value in Q1-Q3 2023 fell to $3.7 billion, a 13% year-on-year decrease. This echoes the negative pricing trend that exporters have seen in the United States and China, India’s two main export destinations.

Traditionally, the United States is the biggest importer of shrimp from India. As of FY23, it contributed to 33% of total shrimp exports from India. However, the dependence on the United States marketplace has surprisingly backfired.

Due to the epidemic, shipping freight prices skyrocketed, resulting in a drop in export volume. At the same time, Ecuador benefited from its geographical closeness to Western markets, giving it a logistical advantage over its Asian competitors. 

As the United States began to negotiate trade agreements and lower tariffs with Ecuador, it signaled a trend toward diversifying its shrimp supplies and lessening its reliance on India. Furthermore, Ecuador’s competitive price mirrored that of India, resulting in a win-win situation for both the United States and Ecuador. The situation exacerbated when the US placed a 3.8% anti-dumping charge on select Indian shrimp.

India’s exports to the US, its largest market, fell between 2021 and 2022. But by 2023, they had steadied and grown by 1%. Furthermore, shipments to the EU fell by 12%, to 38,119 MT. Belgium and the Netherlands remained the EU’s major marketplaces for Indian shrimp.

While exports to Belgium increased (16% year on year), shipments to the Netherlands fell 15% year on year to 2021 levels. Exports to France, the EU’s third largest market, fell by a stunning 54%.

Furthermore, the rise in shrimp feed has contributed to the shrimp industry’s declining trajectory.

Shrimp feed contains a specific diet designed to ensure the life and growth of shrimp. It is made from three main ingredients: soybean meal, fishmeal, and wheat flour.

Over the last three years, the feed sector has seen price instability, notably as a result of a 40% spike in fishmeal costs owing to worldwide shortages. This increase has squeezed the purse strings of many farmers, reducing profit margins.

India’s shrimp sector is at a crossroads, trapped between opportunity and risk.  In a deliberate bid to boost the shrimp business, the Indian government is reducing customs taxes on shrimp feed from a high 15% to a more manageable 5%. Furthermore, by establishing an ambitious export target and taking prudent measures, the country may reclaim its lost place in the sector.

Jaber Bin Abdul Bari
Department of Oceanography, NSTU

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Data from the Department of Fisheries Inspection and Quality Control reveals a concerning trend. In the fiscal year 2021-22, 24,104 MT of frozen shrimp were exported. However, in 2022-23, this figure dropped by 4,000 MT to 19,904 tons. The first six months of the current financial year saw 9,971 MT of shrimp exported, marking a 3,000 MT decrease compared to the corresponding period last year.

The initial target for shrimp export earnings in the first quarter of the current financial year was US $158.7 million, but the income fell by US $54.6 million, reaching US $102.13 million. The high price of shrimp in Bangladesh has hampered its competitiveness in the global market, and the recent decision by the government to reduce the one percent incentive has further impacted exporters.

Sujan Ahmed, General Secretary of the Seafood Export Buying Agent Association of Bangladesh, highlighted internal issues contributing to Bangladesh’s struggle in the shrimp export market. He mentioned instances where Bangladeshi shrimp, due to various reasons such as short weight, were rejected by several countries, leading to a loss of interest among buyers. The decision to cut incentives, Ahmed warns, could exacerbate the existing deficit in the export sector.

Kazi Belayet Hossain, President of the Bangladesh Frozen Food Exporters Association, shared similar concerns, predicting that the reduction in the one percent incentive for shrimp exports could intensify production deficits, resulting in a further decline in exports.

While the Directorate of Fisheries Inspection and Quality Control in Khulna has suggested focusing on the export of value-added products to boost exports, there is no clear stance on the reduction of incentives. Monirul Islam, Deputy Director of the Fisheries Inspection and Quality Control Department, hinted at exploring the possibility of importing shrimp, repackaging it, and re-exporting it as a potential strategy.

As Bangladesh grapples with the challenges facing its shrimp export industry, stakeholders are urging a reconsideration of the decision to reduce incentives, emphasizing the need for comprehensive strategies to enhance competitiveness and revive the country’s position in the global market.

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In the current fiscal year 2023-24, Satkhira district has witnessed a surge in Galda exports, totaling USD 7 million. This represents not only a substantial financial boost for the district but also a notable increase of 1000 tons in freshwater shrimp production compared to the previous season. The positive momentum is expected to continue, with projections indicating further growth in both exports and production.

The Satkhira District Fisheries Department reveals that the region engages in commercial cultivation of various shrimp species, including Bagda (P. monodon), Galda (M. rosenbergii), Harina (M. monoceros) etc. Despite the popularity of Bagda (P. monodon), farmers are increasingly turning to Galda (M. rosenbergii) farming due to the high prevalence of viruses and infectious diseases affecting Bagda. Additionally, the international market’s significant demand for Galda or freshwater shrimp makes it an attractive option for farmers.

In the current season, Galda cultivation spans 20,000 hectares across seven upazilas in the district, marking a substantial increase of 2,000 hectares from the previous season. Golam Mostafa, a seasoned Galda farmer from Raichpur village in Satkhira Sadar Upazila, shares his success story, stating that the current season’s 4-hectare Galda farming yielded a profit of $7.3 thousand, exceeding the previous season’s earnings of $5.5 thousand. Encouraged by the high growth and favorable prices, Mostafa plans to expand his Galda cultivation in the future.

Despite the success, farmers highlight challenges in Galda production, particularly in the collection of post larvae. Restrictions on collecting PL’s (Post Larvae) from rivers or the Sundarbans, coupled with illegal imports from India which are often disease prone, contribute to the insufficiency of freshwater shrimp production compared to the demand. Farmers are calling for government support to address these challenges and ensure sustainable growth in the Galda industry.

Abul Kalam Babla, the General Secretary of the Bangladesh Prawn Growers Association, emphasizes the vast potential in Satkhira for Galda exports. However, he points out complications in collecting it’s PL, urging government intervention to boost PL production and avert potential disruptions in Galda farming due to the shortages of PL in the future.

Satkhira District Fisheries Officer Anichur Rahman emphasizes the district’s progress, stating that the current season witnessed a 2,000-hectare increase in freshwater shrimp cultivation, resulting in the production of 11 thousand tons with an estimated export market value of $7 million. This notable growth signifies Satkhira’s pivotal role in reshaping Bangladesh’s seafood industry, promising a brighter future for Galda exports.

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Despite opposition from exporters who fear negative impacts on the export sectors, experts have welcomed the government’s initiative. Effective from January 1 to June 30, the revised export subsidy instructions, replacing the previous circular issued on August 23 for the fiscal year 2024, bring changes to cash incentives for various categories.

For frozen fish exporters, the cash incentives vary based on the percentage of weight covered with ice. Ranging from 4% for products with up to 20% ice weight to 2% for products with 40% and above ice weight.

Exporters of shrimp will get 9% cash incentive if their products are covered with ice weighing up to 20% of the total weight. Like wise the shrimp exporters will get 8% cash incentive for their products which are covered with ice weighing 20% to 30% of the weight, 7% cash incentive for products covered with ice weighing 30% to 40% of the weight and 6% cash incentive for products covered with ice weighing 40% and above of the weight.

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In FY 2021-22, according to the Khulna Fish Inspection and Quality Control (KFIQC) office’s statement, this region exported 24,104 tons of Bagda shrimp (P. Monodon) and Galda shrimp (M. Rosenbergii), valued at US $30,71,27,717.

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The value of all exported seafood was 5.71 billion USD from January to November 2022, according to the Fisheries Ministry. By the end of the year, the ministry anticipates that figure to be $6.2 billion.

The United States is the top importer, who spent 2.15 billion USD on aquatic products from Indonesia between January and November, according to the Ministry. Followed by China at 1.02 billion USD, Japan at 678 million USD, ASEAN at 651 million USD, and the EU at 357.12 million USD.

The value of Indonesia’s shrimp exports to the US in 2022 reached a record-high $1.33 billion. This is a sign that Indonesia’s shrimp industry is getting bigger and being able to meet global demand.

Indonesia’s fisheries produced 18.45 million tons by the third quarter of 2022. Wild fish and aquaculture together make up 11.54 million tons or 14% more than last year.

Shrimp are a high-demand food worldwide, with a $30 billion market, says Fisheries Minister Sakti Wahyu Trenggono. In order to satisfy demand, Indonesia intends to reach 2 million tons of shrimp production by 2024. The nation plans to build 1,000 hectares of shrimp-farming ponds to achieve it. This represents a significant growth from the existing 200 hectares.

Through careful preparation of the land and acquisition of all required tools, we are making every effort to make that a reality. By 2024, I hope we’ll have finished building this 1000 hectare shrimp farm. Trenggono said the farm would be a huge economic boon for the region. Hundreds of employments will be created and disadvantaged towns will receive much-needed funding.

Tunas, cuttlefish, blue swimmer crabs, and octopuses are some of Indonesia’s most popular wild-caught fish, according to Trenggono. The government is working on creating villages for aquaculture, he said. These are places where people can learn and do aquaculture.

“We have aquaculture villages for sharks, catfish, and seaweed, so we don’t need to build new ones. Now that we know how to make shrimp, our goal is to build a new aquaculture facility.” Trenggono said, “We are excited to finish this project and open new opportunities for our local economy.”

The Fisheries Ministry announced today that they had posted an impressive Rp 1.79 trillion in non-tax revenue this year, the highest amount since its founding in 1999. The biggest sources of revenue are natural resources and capture fisheries. They bring in Rp 1.1 trillion from non-tax sources. The collected non-tax revenue was made up of non-natural resources, which made up Rp 611.8 billion, and public service organizations, which made up the remaining Rp 44.3 billion.

Tariq Iqbal
Khulna, Bangladesh

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This East European conflict has a major impact on shrimp exports, both directly and indirectly. Since it has started, shrimp exports to East Europe have hit the rock bottom. The effects of this conflict are having a negative impact on the economy of Europe as a whole.

Due to the complications caused by the crisis and the fear of economic recession, other European countries have also reduced their purchase orders for shrimp and are not willing to pay the same price as before. And this has directly affected the country’s shrimp industry. Exporters, shrimp farmers to all workers are passing the time fearing the unknown.

Bangladesh exported 731 tons of shrimp to Russia last fiscal year. According to the information from Khulna Fisheries Inspection and Quality Control Office (FIQC), it has come down to only 240 tons this year.
On the other hand, exports to Ukraine in FY21 were 119 tones which is down by 78%.

In this context, Mr. Humayun Kabir, Vice President of Bangladesh Frozen Foods Exporters Association (BFFEA) said,
“Due to the war, the export of shrimp to Russia and Ukraine is suspended. The pandemic and the war have had a huge impact on the export of shrimp.
No one in the industry is better off. Many farmers lost their capital and changed occupations for livelihood. Many farmers are turning to white fish farming instead of shrimp.”

Mr. Golam Kibria Ripon is the General Secretary of Khulna Divisional Prawn Breeders Association. He said that the shrimp farmers are facing extreme problems due to the Russia-Ukraine war after the closure of Covid. At this time, shrimp production also decreased for many reasons.

Mr. Ripon himself is an award winning shrimp farmer of Paikgacha Upazila.

Mr. Md. Abu Saeed, Deputy Director of Khulna FIQC, admitted that shrimp export has decreased.
He also added that, the Department of Fisheries is monitoring the overall situation and taking steps to increase the export earnings. We are also working to ensure that exporters are not affected”.

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