Tiger shrimp cultivation hit by dropping prices

Sharp fall in tiger shrimp prices have driven Bagerhat prawn cultivators to desperation in the face of impending losses.

The prices of the shrimps (also called ‘white gold’) have fallen by Tk 400 to 500 per kilogram.

Moreover , the farmers are selling their yields to depots on credit for the past three months.

The Bangladesh Frozen Foods Exporters Association has blamed falling prices and demand for the shrimps abroad for the tough situation back home.

Depot owners and cultivators at ‘Barakpur Matsya Arat’, the major storehouse for buying and selling of shrimps in Bagerhat, have urged for government measures to protect the stakeholders in the industry.

Traders at the Barakpur storehouse already owe the farmers several millions, as price for all grades of tiger shrimps experience steep fall in the current season.

In three months, Grade-15 shrimp proces has fallen from Tk 1,300 to Tk 800, Grade 20 from Tk 1100 to Tk 700, Grade 30 from Tk 850 to Tk 600 , Grade-44 from Tk 600 to Tk 400 and Grade-66 from Tk 450 to Tk 200.

Dipankar Baroi, a prawn cultivator from Rampal was in Barakpur to sell the shrimps he cultivated on 13 Bighas of land.

“I first sold tiger shrimps for up to Tk 1,200 and now it’s down to Tk 600.”

He said he was uncertain about when the storehouse owners will pay up the thousands they owe him. Baroi believed the Fisheries Department should be regularly monitoring the changes in international prices to protect their interests.

Shrimp cultivator Abdus Sattar from Bagerhat Sadar Upazila's Dema village told bdnews24.com that he had cultivated on 20 Bighas of land. In the beginning of the season he got better prices for his yields, but during the last three months the price has come down by half.

"I have been selling my shrimps at Shahjalal Shrimp Depot at the Barakpur wholesalers' market. The depot owner owes Tk 300,000 to me for the yields I sold them in the last three months. I do not know when I will get that money," he said.

Sattar said that the depot owner told him that a price fall of tiger shrimps in the international market has led to lesser shipments.

Speaking to bdnews24.com, Shahjalal Shrimp Depot owner Yousuf Hossain said exporters' association BFFEA has claimed the fall in tiger shrimp's price was due to less demand in the international market.

"There have been no shipments since September. I have bought shrimps of Tk 3 million on credit from farmers in the last three months. Likewise, I sold to (exporters') agents on credit. I will pay the cultivators as soon as I get the money they owe me," he said.

According to Bagerhat Shrimp Cultivators' Association President Fakir Mahitul Islam, about 70 percent of the people in the district are involved in the shrimp business.

A virus infestation in shrimps hit the cultivators at the beginning of this season, but that was dealt with and the yield then got good prices before experience a huge slump in the last three months, he told bdnews24.com.

"The price of shrimp has fallen substantially. Cultivators are forced to sell them on credit to the depot owners."

According to the Fisheries Department of Bagerhat, shrimps were cultivated on about 70,000 hectares of land this year.

District Fisheries Officer Narayan Chandra Mandal told bdnews24.com the annual target of this year's shrimp production was set at 15,271 tonnes.

He said the BFFEA could answer as to why the price had fallen drastically.

Barakpur Shrimp Depot Owners Association's acting President Habibur Rahman echoed the fisheries officer’s view saying that exporters' agent cited fall in price and demand in international market behind the situation.

BFFEA Vice President M Khalil Ullah could not be contacted for comment as his mobile phone was switched-off.