Ukraine war, inflation harming Bangladesh’s shrimp exports

The Russia-Ukraine conflict and rising inflation rates in global markets are negatively impacting Bangladesh’s shrimp exports.

Russia and Ukraine were both markets of significance to Bangladesh’s shrimp exporters until the beginning of the war in March 2022. But Bangladesh’s exports to Russia in the most recent fiscal year, which ended 30 June, dropped to  240 metric tons (MT), down 67.2 percent year-on-year, while the value of its exports to Ukraine dropped 72.5 percent, from BDT 110 million (USD 1.09 million, EUR 1.14 million) to BDT 30.2 million (USD 298,400, EUR 312,300).

Bangladesh Frozen Foods Exporters Association Vice President Humayun Kabir told the Dhaka Tribune on 26 September shrimp exports from Bangladesh to Russia and Ukraine have been suspended due to the war. As a result, many of the country’s shrimp farmers are facing losses and have responded by shifting to farming of whitefish species ... 

Photo courtesy of Oikeo Projects/Shutterstock