In a significant move ahead of the Durga Puja festivities, the Ministry of Commerce has greenlit the export of 3,000 tonnes of hilsa to India.
This decision, announced yesterday, allows 49 businesses to each export 50 tonnes of the prized fish, marking a notable shift from the initial reluctance of the fisheries and livestock ministry.
The approval follows a September 21 circular, which was based on a recommendation from the foreign ministry. This year, the export decision was particularly contentious, as the fisheries and livestock ministry had initially opposed it due to domestic demand concerns.
Despite these reservations, the commerce ministry proceeded, highlighting the economic benefits and the cultural significance of hilsa during Durga Puja. In the fiscal year 2023-24, Bangladesh exported 664.86 tonnes of hilsa to India, generating $7.71 million.
This export volume was a mere fraction of the 571,342 tonnes caught that year. Comparatively, in the previous fiscal year, 1,376.42 tonnes were exported, earning $13.68 million from a total catch of 566,593 tonnes.
This year’s decision underscores the balancing act between meeting domestic needs and fostering international trade relations, especially during culturally significant periods like Durga Puja.
The move is expected to strengthen ties with India while also showcasing Bangladesh’s commitment to supporting its export businesses.
