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October 12, 2014

Bangladesh

Shrimp Prices Dropping Against Strong Dollar

 

As the value of the USA dollar increases, Bangladeshi shrimp farmers get less for their shrimp.   Kazi Bellayet Hossain, a senior vice president of Bangladesh Frozen Foods Exporters Association, said, “We’re facing this situation as the Europeans are buying the dollar at a high rate, which increased the expenditure of our buyers.  ...It’s disappointing.  We are supposed to get big export orders ahead of Christmas, but the demand has fallen unexpectedly.”

 

Khan Habibur Rahman, a deputy managing director for the Lockpur Group, a customs agency, said that shrimp prices in the global market fell by 10 to 15 cents per pound recently and that demand for tiger shrimp in the European market has also slowed.  He said the price for 16-20 count shrimp [product form not given] is now $8.50 to $8.80 per pound, compared to $8.60 to $ 8.88 15 days ago.  Last year, the price for 16-20 count shrimp was $9.50 per pound because of a supply shortage of white shrimp in the global market.

 

Source: The Financial Times.  Strong Dollar Weighs on European Shrimp Orders.  Sonia H. Moni.  October 12, 2014.

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