Ray of light from Japan for shrimp exporters

News 08:10 04/07/2013 496

Japanese buyers are once again showing interest in Bangladeshi frozen shrimps, creating scope for exporters to reduce dependence on Europe, their largest market.

“Our exports to Japan had been very low over the last several years, but recently we are receiving many queries from there. It is a very positive sign,” Md Rezaul Hoque, managing director of Modern Sea Food Ltd, said.

In April alone, exporters shipped shrimp worth $2 million to Japan, according to Bangladesh Frozen Foods and Exporters Association.

Japan, Asia’s second biggest economy, was once the main market for Bangladeshi shrimps, especially during the 1980s and 1990s. But exporters found buyers were reallocating since the beginning of the 21st century.

“Now, it appears that the Japanese buyers are shifting back to us from India and Vietnam. If we can maintain quality and commitment, it’d become a very important market for us,” Hoque said. He said the reopening of the Japanese market will reduce their dependence on Europe and the US.

“We had to sell our products at very low prices to the European buyers after the global recession — it left us in losses. The burden on the industry would lighten if we had a good market in Japan.” Even, buyers from Vietnam are showing interests in Bangladeshi shrimps, said Shoyeb Mahmud, general manager of Jahanabad Seafood Ltd.

“It may be that they are shifting to us because of the falling production of their black tiger shrimps. But we cannot take all new orders because of inadequate raw materials.” The renewed interest from Japan, however, coincides with the improving fortunes in the export market. Exports receipts from shrimp, the major item in the frozen food segment, have been picking up since February.

Export earnings from shrimp were 13 percent down during the July-January period of the current fiscal year compared to the same period a year ago, according to Export Promotion Bureau. But the situation improved in July-May, when earnings were 6 percent down to $406 million, compared to $432 million in the same period the previous year.

“It’s the result of increased demand and higher prices of our black tiger,” said Kazi Belayet Hossain, managing director of Sobi Fish Processing Ltd.

Hossain recently received orders from Japan for two containers of shrimp, the first since 1997. “We are taking extra care in quality control,” he said, adding that the Japanese buyers are offering better prices which, in turn, are forcing buyers from Europe to offer increased prices.

“Buyers from Europe had been in a wait-and-see mood. Now they also have started placing orders because of purchase by the Japanese buyers,” said Hossain, also a former president of the exporters’ association. Md Amin Ullah, the incumbent president of the trade body, said the increased demand and prices also caused a price spiral at the farmer’s level. “The farmers are reaping the benefit of better prices,” he said.

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