DHAKA: Bangladesh Frozen Food Exporters Association (BFFEA) told that Bangladesh exported over 18 tonnes of shrimp worth $200,585 to Russian market after three month break.
In last three months from December, there was no export of Bangladeshi shrimps to Russia, Export Promotion Bureau data shows.
Russia meet 5% of its shrimps demand by the import from Bangladesh.
Officials concerned said economic recession in Russia and appreciation of dollar against the Russian currency Ruble had slowed down the country’s shrimp import.
“Due to fall in demand and weaker Ruble, the importers chose to stop buying shrimps from Bangladesh,” the BFFEA official said.
“It’s good that the export has resumed, though the start is slow as it’s a sign of recovery,” he added.
Russia’s economy has recently witnessed economic recession due to sanction imposed by the US government and European Union for violating the sovereignty and territorial integrity of Ukraine, or for stealing the assets of the Ukrainian people.
“Russian buyers stopped purchasing shrimps from Bangladesh due to economic recession as it is a luxury product,” said Khan Habibur Rahman, a shrimp exporter and Deputy Managing Director of Lockpur Group.
Prices of Bangladeshi shrimps known as “Black Tiger” is higher than that of Vietnam and India’s vannamei species, he said, for which the Russian buyers preferred Vietnamese and Indian species. Khan Habibur said the Ruble depreciation had been a catalyst to the situation, prompting the importers to suspend shrimps collection from Bangladesh.
He added that the buyers had cancelled shipment of eight containers of Bangladeshi shrimps. “We do not know if they would renew the shipments or not.”
According to EPB data, Bangladesh earned $18.98m exporting shrimps to Russia during the July-November period this fiscal year.
In last financial year, the country earned $19.31m exporting shrimps to Russia, which was $27.95m in the previous fiscal.
In the July-February period of the current fiscal, the country exported shrimps worth over $386m to global market.
In last fiscal year, the country’s shrimp export totaled $550m compared to $455m in the previous fiscal year.
