Fish exporters in Jashore have been suffering significant losses due to the unpredictable fluctuations in the US Dollar exchange rate. Exporters with bank loans are particularly hard hit, as they must meet their payment obligations, including interest, regardless of these fluctuations, according to several fish exporters.

During conversations with some fish exporters in Jashore, many voiced their concerns about the unstable USD rate. Ikramul Islam Faruque, managing director of Fariea International in the Tasbirmahal area, mentioned that he exports high-quality Bangladeshi fish to India and other Western countries, bringing in foreign currency that contributes to strengthening the national economy.

Faruque highlighted that fish exporters across the country are struggling financially due to the recent frequent changes in the US Dollar rate. He warned that this instability could deter exports unless a stable exchange rate is established. He stated that Bangladeshi sweet water fish, including Hilsa, are highly in demand in India and other countries for their exceptional taste. This demand ensures better prices for exporters and enhances the country’s reputation abroad.

To maintain high export quality, Faruque plans to establish a processing centre in Jashore, which he believes will help reduce costs and improve profitability. Initially, he began importing photocopy machines, surgical items, auto rice mill spare parts, and computer ink from India and China while also exporting sweet water fish varieties like Rohu, Catla, Mrigel, Silver Carp, Pabda, and Hilsa to India.

His business has received financial support from Sonali Bank’s Jashore Corporate branch, but exporters continue to face challenges until the US Dollar fluctuation stabilizes. Despite these obstacles, Faruque is committed to expanding his business each year.

Emphasizing the popularity of Jashore’s fish among Indian consumers, Faruque reported that last year he exported fish worth approximately Tk27 lakh. He also exported local garments to Dubai and India, totaling another Tk8 lakh.

When contacted, Iqbal Kabir, general manager of Sonali Bank in the Jashore region, and Mohammad Maniruzzaman, deputy general manager of the Bank of Jashore Corporate branch, expressed their commitment to supporting exporters. They affirmed that Sonali Bank is dedicated to helping the business community thrive by fostering export growth and bringing in foreign currency, and they are willing to invest further whenever exporters express interest.