Bangladesh Targets China’s $2B Market with Shrimp Farming

Shrimp exports in Bangladesh have halved over the past seven years, forcing many processing units to shut down. Out of 109 registered factories, only 48 remain operational—30 in Khulna and 18 in Chattogram—due to a severe raw material shortage, with factories receiving just 7% of their required shrimp input.

Marine fish harvest in Bangladesh declined for the second consecutive year, with catches from the Bay of Bengal falling to 628,622 tonnes in FY 2023-24, the lowest in nine years, marking a 13% year-on-year drop, according to the Department of Fisheries (DoF).

Bangladesh has made significant progress in fish and meat production, securing a comfortable position in ensuring food security. According to the FAO's The State of World Fisheries and Aquaculture 2024 report, the country has moved to second place globally in freshwater fish production, producing 1.32 million tonnes.

Beach Hatchery, a publicly listed agro-based firm, has announced a 10% cash dividend for its general shareholders for the fiscal year 2023-24, marking the highest payout in years. The company posted earnings per share of Tk2.03, which is 118% higher compared to the previous year. Despite the dividend declaration, the company’s share price fell by 2.63%, closing at Tk96.20 on November 27, 2024.

Thousands of Indian fishermen allegedly trespassing into Bangladesh's maritime boundary, even during fishing bans, has prompted officials to propose forming a quick-response committee. On 2024-11-25, at a workshop held by the Department of Fisheries (DoF), the Fisheries and Livestock Adviser suggested a team comprising the DoF, Bangladesh Fisheries Research Institute (BFRI), Coast Guard, Naval Police, and Navy to curb foreign intrusion.