The Bangladeshi shrimp sector enables livelihood opportunities for millions of people residing in the southern part of the country. Once labeled as the next big export driver, the Bangladeshi shrimp sector is at a crossroads, with two distinct schools of thought emerging: introducing Vannamei (White legged) production in the Bangladesh shrimp ecosystem or pursuing Monodon (Black Tiger) as a premium natural product in the global market. The future of the shrimp sub-sector will rely heavily on collaborative partnerships among policymakers, value chain actors, and development partners.
The report by LightCastle Partners, titled “Bangladesh Shrimp Sector: Transitioning Towards Sustainable Growth,” provides an in-depth analysis of the global and Bangladeshi shrimp sectors. It highlights the challenges faced by the industry, including the impact of climate change, dwindling market share in the global arena, and LDC graduation. Establishing a quality assurance framework through integrated backward linkage and improved branding of Bangladeshi shrimp in the international market is the key recommendation in this report.
| To learn more
Detailed information on the domestic shrimp export figures, Bangladesh’s ranking in the global shrimp market, and the shrimp farming area are mentioned in the report. It also discusses the post-pandemic recovery and the emergence of Vannamei. In 2020-2021, domestic shrimp exports were USD 383.16 million, and Bangladesh ranked 9th in the global shrimp market. The shrimp farming area was between 180,000-185,000 hectares, with 59% of shrimp exported to the EU market.
Furthermore, the report also acknowledges the contributions of various individuals and organizations in providing valuable insights into the systemic challenges experienced by the shrimp sector. These include industry associations, regulators, farmers, intermediaries, and processors.
This report is a great read for anyone involved or interested in the shrimp or fisheries value chain of Bangladesh. In conclusion, it provides valuable insights into the current state and future prospects of the Bangladeshi shrimp sector. It highlights the challenges faced by the industry and recommends a way forward for establishing a quality assurance framework through integrated backward linkage and improved branding of Bangladeshi shrimp in the international market.
Note: This report was originally published on the LightCastle Partners website.
Contact us for a comprehensive understanding of the investment landscape in Bangladesh