DHAKA: President of Bangladesh Frozen Foods Exporters Association, SM Amzad Hossain, said at a press conference at the office of the association in Dhaka that price of Bangladesh black tiger shrimp has slumped 42 percent to $5.25 a pound (16-20 pieces) on decline in value of the euro and the Russian ruble against the dollar.
“We are forced to sell at lower prices to retain our international buyers. Exports to Russia have dipped to almost zero, while the demand for shrimp also fell in Europe because of an economic slowdown there,” he said.
Since shrimp is a perishable item, exporters often have to clear stock at a loss, he said.
Bangladesh earned $638 million by exporting 55,074 tonnes of frozen food, including shrimp, in fiscal 2013-14. Around 70 percent of the exports went to European Union and Russia.
Overall, shipment fell 5 percent year-on-year to 32,800 tonnes in July-January of this fiscal year, according to the association.
