Abstract
Shrimp farming is fundamental to the national economy of Bangladesh, particularly through earning foreign currency. The nationwide lockdown and international cargo restriction jeopardized the sector and breaking its marketing chain. Assessing the degree of farming socio-economic peril from COVID-19 and suggesting early coping strategies and long-term mitigation measures are pressing to build resilience for this food production sector. To collect survey data, two key-informant face-to-face surveys with 51 shrimp farmers and 62 consumers in southwest Bangladesh were accomplished. As national lockdowns restricted access to export markets and movements within the country, farm incomes decreased against rising production costs. To compensate, farmers reduced their workforce (29.4%), but even with the sale of co-cultured finfish still suffered from large drops in revenue (42.8% average profit reduction). Furthermore, we present evidence that shrimp farmers should consider diversification of aquaculture product type as co-culture of additional shrimp species was a poor mitigation strategy against large market price fluctuations. Product price reductions were passed on to the consumer, who enjoyed falling product prices including more expensive shrimp products, but the markup for nearly all aquaculture products increased. The current jeopardy and consequences of shrimp farming future are discussed, including coping strategies to help policymakers in building resilience against future uncertainties. SUPPLEMENTARY INFORMATION: The online version contains supplementary material available at 10.1007/s12562-022-01630-0.