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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The first two companies are based in Khulna and active members of the Bangladesh Frozen Food Exporters Association (BFFEA). SM Corporation’s whereabouts are unknown.

What these shrimp exporters did was, they created made-up documents that claimed they were exporting shrimp but didn’t actually export any shrimp. They then provide these documents to Rupali Bank and got about US $15 million. They also took around US $4 million from the government as export subsidy for their fabricated exports. So, in total, they got about US $19 million through these fake documents. This is just what known so far; there could be more money involved.

This happened at Sir Iqbal road or Sham’s building branch of Rupali Bank in Khulna. The Bangladesh Bank, which oversees banks in Bangladesh, and Rupali Bank’s own internal team are now investigating this to find out what exactly happened and who it. Both initial reports from these teams confirm that a fraud occurred.

Two employees of Rupali Bank, the former manager, and deputy general manager (DGM) Zakir Ibn Borak, and senior principal officer Murad Hossain, have already been suspended because of this.

Bilkish Ara, the current manager of Rupali Bank’s Sir Iqbal road branch Khulna, said that the head office’s audit team is looking into this matter. She didn’t want to talk to the news media and suggested talking to the head office for more information.

When asked about this recently, the Managing Director of Rupali Bank, Mohammad Jahangir, said, “These companies have been our customers for a long time, and they’ve even received government awards. We are trying to get back the money they took and some amount has been recovered.”

The bank had been lenient with them because of the ongoing dollar shortage in recent years. Shrimp exporters in Bangladesh don’t need to buy raw materials from abroad, so all the money they earn from exporting shrimp helps increase the country’s supply of dollars.

In many cases, these shrimp exporting companies sell their export bills to their banks to get quick cash since it takes time for the money to appear in their accounts. Banks charge fees and commissions for this service. The banks did this to support the companies, thinking it would boost the country’s export income and bring in more dollars. However, these companies misused this opportunity.

Priam Fish Export Ltd‘s factory is in Char Rupsa, Bagmara, Khulna, and it’s managing director is Abdul Quader. Bionic Sea Food’s office is on KDA Avenue in Khulna, and its managing director is Siddiqur Rahman.

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