Bangladesh’s shrimp industry, once a $500 million export engine but now earning less than $300 million, could scale up to $5 billion within five years with the right policy support, industry leaders say.

An analysis of export data from the Export Promotion Bureau (EPB) shows that in the 2015-16 fiscal year, the country earned $529 million from shrimp exports. Since then, exports have dropped sharply.

While shrimp exports rose by 19 percent in the 2024-25 fiscal year, the figure is still far from the sector’s past heights.

Addressing why this promising industry has faltered and whether the current upward trend signals a strong future, Professor Asif Wares Newaz of Sher-e-Bangla Agricultural University’s Department of Fishing and Post-Harvest Technology said that the use of antibiotics against international standards, White Spot Disease in Bagda shrimp, and issues like jelly-pushing and using inappropriate antibiotics have negatively affected shrimp exports.

“Even if exporters process shrimp properly, most farmers remain outside monitoring. Without monitoring disease detection, control measures, and proper drug use, regaining lost reputation will be challenging,” he explained.

Asif added that Belgium once was a major market for Bangladeshi shrimp. That market is now dominated by India, the Netherlands, and Vietnam. India alone exports nearly $100 million worth of shrimp to this market, while Bangladesh’s share remains below $25 million.

Shrimp: Khulna’s ‘white gold’ eyes Tk 22,600cr export goal

Entrepreneurs believe Bangladesh has the potential to compete with India in shrimp exports. “India produces shrimp on 102,000 hectares of land. Bangladesh cultivates over 250,000 hectares. Yet India produces over one million metric tons of shrimp, while Bangladesh produces around 100,000 metric tons of Bagda shrimp,” said SK Kamrul Alam, vice president of the Bangladesh Frozen Food Exporters Association (BFFEA).

Kamrul noted that India’s lead is primarily due to its production of Vannamei (white leg) shrimp. Bangladesh received approval to produce Vannamei shrimp several years ago but has not yet started exports. He said leveraging Bangladesh’s shrimp farming land for Vannamei production could break records in exports.

“Once Vannamei shrimp exports start, it will be possible to earn $5 billion solely from shrimp by 2030,” Kamrul added.

Experimental Vannamei shrimp farming began in 2021 at the research center in Paikgacha, Khulna. The following year, eight companies received experimental cultivation permission, followed by approval for four more firms. Commercial production began last year.

Businessmen cite bureaucratic delays as a major reason for the slow roll-out of Vannamei farming. They said an investment of 2–2.5 million Vannamei shrimp could yield sales worth BDT 4.5 million.

“Per hectare, Bagda production is around 500 kg, while Vannamei yields 12–15 tons. Eighty percent of the world’s shrimp exports are Vannamei. Yet we are still stuck with Bagda shrimp. Bureaucratic hurdles delayed approval for almost a decade,” said Kamrul.

500 shrimp enclosures washed away after an embankment collapsed  in Satkhira

Farmers, however, still face challenges obtaining permits for Vannamei shrimp farming. Farmers in Satkhira and Bagerhat said that special approval from the Department of Fisheries is required, which is a lengthy process, preventing them from taking advantage of this profitable crop.

“Vannamei shrimp farming requires compliance with multiple guidelines. While it can yield 30–50 percent profit, high initial investment deters common farmers,” said Awal Haque, a shrimp farmer from Shyamnagar, Satkhira.

Seafood manufacturers say they are ready to enter contract farming with shrimp farmers once Vannamei cultivation starts, which would reduce costs for farmers and ensure profits for companies. BFFEA Senior Vice President Tariqul Islam Zaheer emphasized that adequate preparation is essential before starting Vannamei shrimp exports.

“Initial investment exceeds BDT 2 million. If farmers are not properly trained, starting Vannamei cultivation could backfire. Training is needed for pond preparation and shrimp rearing practices,” he said.

Zaheer also highlighted old challenges in shrimp farming, noting that despite being a large sector, farmers have no insurance, and loans for shrimp farming do not enjoy special benefits. Even with low-interest loans available for other crops, fish farmers get no similar support. Subsidies in electricity for fish farming are also absent. Faced with these difficulties, many farmers are filling ponds and moving to land-based farming, causing the fading of the once-famous “white gold” shrimp legacy.

“Although exports reportedly increased, the real picture is different. The rise largely reflects higher dollar prices, not actual export volumes,” Zaheer said.

BFFEA members revealed that while around 100 companies are engaged in shrimp exports, 70 have shut down due to raw material shortages. Without government support, there are fears that the sector could collapse again.

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Experts also stress the need for further research on the genetics of Vannamei shrimp. Unlocking the genetic potential, as done with hilsa and jute, could enable Bangladesh to produce high-quality shrimp seedlings adapted to its climate, reducing reliance on harmful antibiotics.

Adviser to the Ministry of Fisheries and Livestock, Farida Akhter, told UNB that while shrimp farming has potential, Bangladesh is yet to fully benefit. The ministry is observing how countries like Vietnam and India are succeeding and will soon introduce business-friendly measures for shrimp farming.

“One cannot look only at the business side; climate and environmental factors also matter. In areas like Satkhira-Bagerhat, lands have been illegally acquired for shrimp farming, increasing salinity and reducing crop yields. Scientific decisions are needed,” she said.

Farida added that low-interest loans are being arranged for fish farmers. Steps have been taken to free farmers from predatory lending and restrictive enclosures, and special emphasis is being placed on subsidised electricity.

BFFEA has independently prepared a research report on measures to boost shrimp farming. They will soon present their findings to the government, believing that with support, Bangladesh can revolutionize shrimp exports and reclaim its “White Gold” legacy.

Read more: Shrimp: Khulna’s ‘white gold’ eyes Tk 22,600cr export goal