Frozen food export of Bangladesh is the second largest exporting sector of the country’s economy. The large numbers of natural resources are available in the country for making frozen foods and perishables including meat, fish, fruit and vegetables. Generally, promising entrepreneurs looking forward to supply in Middle East, European Union, USA and others international markets. Frozen food export is one of the leading foreign currency earning sector of Bangladesh.
Export Promotion Bureau data shows that, Bangladesh has earned US$ 638 million by exporting 55,074 tones of frozen foods, including shrimp in fiscal year 2013-14. Frozen food is one of the sub-sectors of agricultural in the country. Frozen food contributes around 23 per cent of total agriculture export and out of total frozen food export; shrimp alone contributes nearly 90 per cent. Shrimp is the most earning item seafood of fisheries sector that brings foreign currency by exporting to foreign country. Bangladesh earned US$147 million in 2013-14 fiscal year from exporting of vegetables to foreign destination.
Frozen Food industry needs large investment for making infrastructure, machinery, production land, technologies and other activities. For using large investment to set up these industry that’s why many entrepreneurs jointly operating the business and invest capital to establish frozen food or shrimp industry. Being a large investment, local and foreign entrepreneurs can start frozen food business by setting up Limited or Joint Venture Company in Bangladesh. The value of global frozen food is around USD 15 to 16 billion; however Bangladesh’s contribution is only USD 600 Million.
If entrepreneurs want to set up frozen food business in Bangladesh, firstly, take Company Incorporation/ Company Registration from RJSC (the Registrar of Joint Stock Companies and Firms). After getting Company’s Incorporation Certificate we collect Trade License, TIN (Taxpayers Identification Number) Certificate for commencing the business and producing goods. Secondly, we receive ERC (Export Registration Certificate), IRC (Import Registration Certificate), Bangladesh Frozen Food Exporters Association (BFFEA) membership Certificate and VAT (Value Added Tax) Certificate for exporting finish or raw goods to the foreign country and also importing necessary goods which needed these industries. Shrimps, our main frozen foods item, has large consumer in Japan, European (EU) and USA market which demand increasing day by day around the world.
According to Bangladesh Frozen Food Exporters Association (BFFEA) data, our shrimp cultivate ( Galda and Bagda) across the country with annual production of 300 tons per hector, however, China, Vietnam and Thailand their productivity rate is higher than us, they produce around 2500 tons shrimp on every hector. We have lots of opportunities to adopt modern fish cultivation to increase productivity and goods quality to grab world’s lucrative sea food & frozen food market. At present Bangladesh is the fourth largest inland / fresh water fish producing country into the world. We have around 70% fishing of inland water or salinity free water and 30% of Marine fishing including brackish water for cultivating best quality shrimp and fresh water fish such as Hilsha, Eel, Prawn, Crab, Lobster and many more.
Bangladesh has large sea basin, river water and coastal water region where producing huge amount of Shrimp, however, there are not using modern technology in this sector for this reason productivity rate is not sufficient than other competitive countries like Thailand, India and Vietnam. Shrimp farmers said the semi-intensive cultural system is cost effective and production can be increased by several times with the same cost using this modern method so semi-intensive method of shrimp farming will be the best way in Bangladesh.
Frozen food export including processed food is the leading foreign currency earning sector in the country. Processed foods there are many agro-based products adding here such as inland water fishes (Dry & freezing), Livestock & poultry processed meat (Beef, Foul and Mutton) and seasonal fruits and vegetables and by products. Now Bangladesh is the leading potato exporting country in global market, however not processing potato goods. Increasing Frozen food export needs to establish freezing & processed industries, so Foreign and Local investor can setup these industries to boost up export of Bangladesh.
