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Bangladesh Shrimp Farmers Fear Touch of Recession

BANGLADESH - The shrimp industry foresees the toughest time this year on a continuous fall both in the price and demand in the troubled developed economies, main consumers of the item, according to industry representatives.

They said buyers in the US and Europe are pressing Bangladeshi exporters to reduce the price of the item in the wake of a deepening financial crisis, reported The Daily Star earlier today.

Some buyers even have showed their reluctance to receive the goods from their respective countries' customs authorities without a reduction in prices.

"I made a shipment to the USA last month, but the buyers asked me to renegotiate the price, without which he refused to receive the goods," Kazi Belayet Hossain, president of Bangladesh Frozen Foods Exporters Association (BFFEA), told The Daily Star.

Hossain said: "If we don't reduce the price, buyers threaten to shift their orders to other countries."

The central bank in its latest semi-annual monetary policy that was announced Wednesday also predicted a weak export demand for shrimps in the coming months on the continued financial crisis.

the Fish Site Editor

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