Huge export potential in Bangladesh’s fisheries sector

A significant portion of Bangladesh’s animal protein supply comes from fish. Alongside ensuring food and nutritional security, the fisheries sector is playing an increasingly important role in the rural economy, employment generation and foreign trade.

In fiscal year 2023-24, Bangladesh produced 5.018 million metric tonnes of fish, while earnings from exports of fish and fish products stood at Tk45.3186 billion. Nearly 60% of total production came from aquaculture.

Despite the substantial volume of production, however, fish exports remain relatively low. Industry stakeholders say the fisheries sector can emerge as Bangladesh’s next major export industry not simply by increasing production, but by generating greater value per kilogram through processing, quality control, traceability, cold-chain infrastructure, technology and branding in international markets.

Fisheries and Livestock Minister Mohammad Amin Ur Rashid has also stressed the need to expand international markets. He said that, alongside increasing production, greater emphasis had been placed on preservation, research and international market expansion. He also recently told Parliament that the government had taken initiatives to conduct research, conserve native fish species and restore their habitats.

Speaking about hilsa, the minister stressed the need for long-term, science-based planning and the importance of expanding international markets.

It is now clear that increasing production alone will not be enough. Quality, preservation and market expansion must be integrated into a single strategy. In particular, ensuring quality at every stage—from production and storage to processing—is essential to strengthening the acceptance of Bangladeshi fish products in international markets.

The next major transformation in the sector could come from directly linking farmers with the export value chain. Easy access to finance, fish insurance, quality fingerlings, improved feed management, disease control and technical assistance at the field level could reduce production costs while improving quality.

Sakif Shamim, chairman of the Centre for Strategic and Economic Research (CSER) and managing director of LabAid Hospital Group, views fisheries as both a pillar of food security and a promising export-oriented economic sector.

He said Bangladesh Bank and commercial banks should introduce special lending facilities for the fisheries sector alongside efforts to increase production. At the same time, strict monitoring is needed to ensure the quality of fish fingerlings and feed and to prevent adulteration. He also highlighted the importance of e-traceability in fish exports, saying that maintaining and verifying information from production to export would be essential to strengthening Bangladesh’s position in international markets.

Moving from raw fish to value-added products

According to Shamim, Bangladesh has a major opportunity to expand exports of processed fish products rather than raw materials. Peeled and deveined shrimp, ready-to-cook fish, fish fillets, portion-cut fish, seasoned or coated fish, cooked shrimp and ready-to-eat products can command significantly higher prices in international markets.

In other words, instead of exporting one kilogramme of fish as an ordinary frozen product, converting it into a ready-to-eat food or other high-value processed product could multiply export earnings.

This will require modern cold storage, refrigerated transport, quality processing plants, laboratories and faster port services. Any weakness in the chain—from farms to collection centres, cold-chain facilities and processing plants to ports—can undermine the entire export system.

Climate change is also creating new risks. Coastal areas are facing salinity, cyclones and tidal surges, while changes in temperature and water quality in other parts of the country are affecting fish production. Investment therefore needs to increase in climate-resilient species, improved hatcheries, disease prevention and sustainable farming methods.

Research is also needed to develop high-value species, improved fingerlings and technologies that can increase production while using less feed.

Europe and the United States remain important markets for Bangladesh, but opportunities also exist in the Middle East, China, Japan, South Korea and other North American markets. Consumer preferences vary from market to market. Some markets have stronger demand for halal and ready-to-cook products, while others prefer premium shrimp or fish fillets.

Therefore, Bangladesh should develop market-specific products instead of attempting to sell the same products everywhere. It should also build a distinct “Bangladeshi Fish Products” brand.

Quality control and digital traceability

Dr Md Khaled Kanak, director general (acting) of the Department of Fisheries, said the importance of quality control in fish exports was evident from the nature of his responsibilities.

Production alone is not enough to enter international markets. Bangladesh must ensure food safety, control harmful residues, maintain safe processing practices, conduct laboratory testing and establish the ability to trace the origin of products.

E-traceability should be integrated into the system. Information on which farm produced the fish in an export consignment, what feed was used, when it was harvested, where it was stored and at which processing plant it was packaged should be digitally recorded.

He said the fisheries sector of the future would be data-driven. Low-cost sensors could be used to measure water temperature, oxygen, pH and ammonia levels. Automated feeding and digital farm management could reduce feed wastage, while technology could also improve disease detection.

The major challenge, however, is the cost of technology. Small farmers cannot afford expensive equipment. A cooperative or technology-as-a-service model could therefore be introduced. If several hundred farmers in an area could access a shared digital water-testing or disease-detection service, costs would fall while access to technology would increase.

Fisheries can become Bangladesh’s next major export industry

According to a CSER analysis, fisheries already play a significant role in Bangladesh’s economy. Around 60% of the country’s animal protein comes from fish, while total fish production reached 5.018 million metric tonnes in FY2023-24. Fish and fish-product exports earned Tk45.3186 billion during the same period.

The question is whether the sector will remain in its current position or become Bangladesh’s next major export industry.

A large share of Bangladesh’s fish production is currently consumed domestically. Aquaculture has also expanded rapidly, accounting for around 60% of total production in FY2023-24.

Shrimp remains the leading export product, but there is also international market potential for freshwater prawn, crab, marine fish, coral, pangasius, tilapia and various processed fish products. Bangladeshi fish and fish products are already exported to more than 50 countries, with the European Union, the United States, Japan, China and Russia among the major markets.

But simply increasing production will not trigger an export revolution. The entire system—from production to market—must be transformed.

The first priority should be strengthening farmers. Bangladesh has a large number of small and medium-sized farmers who operate with limited capital, uncertain markets and multiple risks. Access to quality fingerlings and feed, disease, production costs, water quality and natural disasters all affect their output and income.

Ensuring fair prices for farmed fish is another major challenge. In many cases, farmers have little influence over market prices and remain dependent on intermediaries.

Farmers must therefore be viewed not merely as producers but as partners in the export value chain. Easy access to credit, fish insurance, quality fingerlings, modern feed management, disease control, training and field-level technical assistance are essential.

Direct contract-based production arrangements between farmers and processors could also reduce market uncertainty and make it easier to maintain export-quality standards.

Technology and climate resilience

The second major transformation must come through technology.

Future fish farming will increasingly be data-driven and precision-based. Low-cost sensors can monitor water temperature, oxygen, pH and ammonia levels. Automated feeding, digital farm monitoring and disease-detection technologies can reduce feed wastage and fish mortality.

Artificial intelligence and data analytics could eventually help large farms make production decisions.

But technology does not necessarily mean expensive machinery. The key challenge will be making affordable technology accessible to small farmers.

Climate change cannot be ignored either. Coastal areas face increasing risks from salinity, cyclones and tidal surges, while higher temperatures and changes in water quality may increase the risk of disease among fish and shrimp.

Climate-resilient species, improved hatcheries, disease-prevention systems and sustainable farming practices are therefore no longer optional. Climate adaptation must become a core component of fisheries policy.

From frozen commodities to high-value exports

The next step is transforming export products.

Bangladesh has traditionally exported relatively less-processed or frozen fish and shrimp. But higher value in global markets is generated through processing and branding.

Peeled and deveined shrimp, ready-to-cook seafood, ready-to-eat products, fish fillets, portion-cut fish, seasoned or coated seafood and cooked shrimp all offer opportunities for greater value addition.

Rather than continuing to export raw materials or basic products, Bangladesh needs to develop its own branded fish products.

International standards will be critical to this transformation. Complete information on a product’s origin and journey must be maintained from production through export. International buyers need to be able to verify where the fish was produced, what feed was used, how it was stored and how it was processed and packaged.

Food safety, control of harmful residues, safe processing, laboratory testing and improved cold-storage systems are therefore prerequisites for export growth.

The entire value chain must be considered as one system. Any weakness—from hatcheries and farms to collection centres, cold storage, processing plants, laboratories, packaging and ports—can damage the entire export operation.

Modern refrigerated transport, local cold-storage facilities, internationally compliant processing plants and fast and reliable port services are therefore essential infrastructure for fisheries exports.

Diversifying markets

Bangladesh also needs to diversify its export markets.

Although Europe and the United States remain important, different strategies will be required for markets in the Middle East, China, Japan, South Korea and other parts of North America, depending on product types and consumer preferences.

Some markets may have stronger demand for halal-certified ready-to-cook seafood, while others may prefer premium shrimp or fish fillets.

Market-specific product development and the creation of a distinct Bangladeshi fish-product brand are therefore increasingly important.

Financing also needs to change. Fish farming should not be treated merely as a sub-sector of conventional agricultural lending. It is a business value chain.

For farmers and small entrepreneurs, lending systems based on production capacity and potential income rather than collateral should be developed. At the same time, private investment and public-private partnerships should be encouraged in modern processing, cold storage and laboratory infrastructure.

The government's most important role is not to run businesses, but to create a business-friendly environment. A coordinated framework involving the Department of Fisheries, Ministry of Commerce, Export Promotion Bureau, research institutions, banks, private processors and farmers is necessary.

Investment in research should also increase to develop advanced hatchery technologies, disease prevention systems, climate-resilient aquaculture and new high-value species. At the same time, Bangladesh needs skilled farm managers, fisheries technicians, food technologists and export quality-control specialists.

A three-stage roadmap

The transformation can be viewed in three stages.

First, reform the production system by improving farmers' access to finance, technology, fingerlings and feed while strengthening disease control and climate adaptation.

Second, develop industrial infrastructure for processing, cold storage, laboratory testing, quality certification and product traceability.

Third, focus on value-added products, export-market diversification and the establishment of a “Bangladeshi Fish Products” brand.

The key question for Bangladesh's fisheries sector is therefore not simply how much more fish can be produced. It is how much greater economic value can be generated from each kilogramme of fish—and how much of that value can be retained by farmers, entrepreneurs and the national economy.

If Bangladesh can bring production, technology, farms, processing plants and global buyers under a single roadmap, the fisheries sector could evolve beyond being a pillar of food security and become the country's next major export industry.

The shift from a raw-material exporter to a value-added, technology-driven and globally competitive fisheries industry could mark the real beginning of Bangladesh's next export revolution.