The Rapid Growth of the Aquaculture Market
Shrimp has become the most consumed #1 seafood in the world. Aquaculture production and trade continues to grow at a very fast pace to meet the faster growing global demand for salt water, fresh water, and deep-sea water shrimp, and other aquatic products. In 2004, aquaculture production reached about 59.0 million metric tons, with a farm gate value of $70.0 billion (in USD). Developing countries like Bangladesh, Indonesia, India, Myanmar, Vietnam, and Thailand have been dominating the aquaculture production and trade contributing over 80% of the production and 50% to the value of internationally traded aquatic products for the last two decades. Aquaculture is making an increasingly significant contribution to the global seafood trade, as well as to domestic consumption, and continues to grow due to strong global interest and demand.
The Expeditious Aquaculture Growth in Bangladesh
Bangladesh is the world's fifth largest producer of inland water (both fresh and salt water) shrimp and other seafood. Subsistence shrimp aquaculture had been a component of our rural activity for centuries. However, shrimp aquaculture as an “export-oriented”, foreign currency generated commercial activity in Bangladesh and other parts of Southeast Asia is rather a recent materialization. Until the mid 80's, the shrimp processing and exporting industry was principally dependent on open water catches. Therefore, the culture of shrimp by commercial farming is a development of the period from the mid 80's. During the 1972 to 1973 fiscal years, Bangladesh generated only $2.90 million (in USD) in foreign currency though exporting farm and fresh water shrimp, which was equivalent to 1% of the country's total exports; it increased to $33.5 million in 1980 and to $90.0 million in 1985; today we are exporting in excess of $820.00 million of shrimp worldwide. It is projected that by year 2010, Bangladesh will export more than $1.30 billion of frozen shrimp world wide. This sudden growth of aquaculture shrimp and increase in export trading currency in Bangladesh as a major export oriented economic activity can be attributed to number of factors like policy initiatives of Structural Adjustment Program (SAP) of the World Bank and IMF along with many policy changes of our national government as well as zero-tariff access to major exporting destinations worldwide like USA, Canada, Western Europe, Japan, S. Korea, Australia.
During the mid 90’s, Bangladesh contributed 4.1% to the total worldwide production of exported shrimp. During that same span the total area of land under shrimp cultivation in Bangladesh was 321,225 acres which is equivalent to 12.7% of global area under worldwide shrimp cultivation. During early 2000, Bangladesh’s contribution to the global shrimp production has more than tripled to 15.0% with 784,500 acres of farm land.
Today, the shrimp and seafood production, processing, and packaging in Bangladesh have technologically improved dramatically through rigorous national and international quality control measures.
ShiMo Global’s Growth and Development
ShiMo Global follows the codes of conduct and methods of production outlined under the United Nation's definition of "Sustainable Development". It produces antibiotic-free shrimp with no hormones and no preservatives using eco-friendly, sustainable shrimp farming methods. It uses low stocking densities and settling ponds to protect the local aquatic ecosystem.
Main objectives of our Research & Development group along with the Ministry of Fisheries in Bangladesh are to develop technologies to maintain and increase market competitiveness. Improvement of actual methods of culture, development of new ones, assay on feed, feeding, stocking densities, poly-culture, inclusion of alternatives species etc. are the present concentration of our R&D group.
R&D group is involved in following major areas:
1. Feed trials on shrimp production
2. Trials on seaweed culture
3. Fish culture program
4. Shrimp domestication program of alternative species
5. Breeding Program
6. Bio-saline Agriculture Project
