Despite the spectre of the Omicron hanging over their heads, shrimp exporters in India have been all smiles in the first six months of the fiscal year 2021-22 (July-December) as the value of exports have grown by 38.23% compared to the same period last year.
According to data from the Export Promotion Bureau (EPB), foreign exchange earnings from shrimp exports in the last six months were $268.95 million, a jump from the $194.58 million registered in the same period of FY2020-21.
Riding on high prices of Bagda prawn, export figures in the first six months suggest that shrimp exporters can beat last year’s haul of $329m and perhaps even secure their highest earnings in a while after many years of consistent decline.
Crimson Rosella Seafood Ltd Managing Director Md Delowar Hossain told The Business Standard that after the emergence of Covid-19, exports of Bagda prawn had stopped, with low prices deterring farmers. In 2021, however, the business came roaring back and exporters enjoyed high sales.
He, however, cautioned that the spread of Omicron could undo all the good work. “Preparations for the new season are underway. If any major lockdowns happen, then all shrimp traders and farmers will incur losses,” he said.
Kazi Belayet Hossain, president of the BFFEA, told TBS that it cannot be said that production was much higher than other years, but good prices for Bagda prawn (Black Tiger prawn) meant that export value was higher.
He also said that if restaurants in Europe begin closing again due to the Omicron variant, exports will be affected again, adding that they had already begun feeling the impact of the virus. Kazi Belayat urged the government to ensure that the global markets for shrimps are not closed off.
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https://www.tbsnews.net/dropped/trade/shrimp-exports-grow-so-do-worries-353371