The Bangladesh government has issued orders to export 2,420 tonnes of Hilsa to India ahead of the festive season, according to a report by The Economic Times. This decision is expected to lead to a significant drop in the price of Hilsa, with traders predicting a decrease from over Rs 2,000 per kilogram to around Rs 1,200.
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The order comes after the Muhammad Yunus-led interim government in Bangladesh initially banned Hilsa exports to India earlier this month. This disrupted the long-standing tradition of sending the prized fish as a goodwill gesture during festivals. Following further negotiations, Bangladesh agreed to allow the export of 3,000 tonnes of Hilsa to India, starting from September 21.
Syed Anwar Maqsood, secretary of the West Bengal Fish Importers' Association, said, “We had requested the Bangladesh government to export Hilsa. Initially, the request was denied, but they eventually decided to export 3,000 tonnes to India.” The supply of Hilsa has been notably poor in West Bengal this year, adding to the anticipation for this consignment.
Volume of Hilsa trade between India and Bangladesh
Before the disruption, Bangladesh exported an average of 5,000 tonnes of Hilsa to India annually, a practice that began in 1996. Concerns over domestic demand led to a halt in exports in 2012. In recent years, the Bangladeshi government has permitted limited exports specifically for Durga Puja, with 4,000 tonnes sent in 2023 and 3,000 tonnes approved for 2024. These exports depend on meeting local demand, with the Bangladeshi government often responding to requests from Indian traders during the festive season.
Trade policies between Bangladesh and India play a crucial role in determining Hilsa prices. While Bangladesh has historically restricted exports to ensure domestic availability, it has occasionally lifted these bans as a goodwill gesture towards India during festive seasons. Such actions lead to temporary price reductions in Indian markets when large quantities of Hilsa are imported.
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Why is Hilsa fish so valuable?
The high value of Hilsa is due to several factors. One key aspect is its seasonal availability. Hilsa migrates from the sea to freshwater rivers during the monsoon months for breeding, making it available only at specific times of the year. This seasonal nature, combined with its association with cultural celebrations such as Durga Puja, makes Hilsa highly sought after during these periods.
Price fluctuations are another factor contributing to its value. A decrease in supply—due to overfishing, environmental changes, or trade restrictions—can cause prices to surge, as seen recently when Hilsa prices jumped from Rs 1,200 to Rs 3,000 per kilogram. This increase was mainly due to the disruption of exports from Bangladesh, which had imposed a temporary ban due to political instability.
However, when supply is abundant, prices can drop dramatically. Local fishermen in the Sundarbans, for example, have reported a significant haul of Hilsa, leading to a temporary reduction in prices. Smaller Hilsa can be found in local markets for as little as Rs 80 to Rs 150, depending on size and availability.
Hilsa’s importance for trade and diplomacy
Hilsa also holds diplomatic significance in the relationship between India and Bangladesh. The fish has been used as a tool to foster goodwill between the two nations, with exports often being arranged to coincide with festivals like Durga Puja. The diplomatic aspect of Hilsa exports underscores the cultural and economic importance of the fish in the region.
Bangladesh, which produces around 70 per cent of the world's Hilsa, considers it a matter of national pride. Hilsa, or 'ilish,' is the national fish of Bangladesh, and its exports play a role in regional trade dynamics. The Padma Hilsa is particularly sought after not only in West Bengal but also in major Indian markets such as New Delhi, Mumbai, Bengaluru, Jharkhand, and Bihar, where it is cherished during festivals like Poila Boishakh (Bengali New Year) and Jamai Shoshti.
Why is Hilsa so loved in West Bengal?
In West Bengal, Hilsa holds deep cultural importance beyond its culinary appeal. The fish is often featured in festivals and rituals, such as Durga Puja, where it may be offered as a sacred offering. It also plays a key role in Bengali family traditions, with elaborate dishes being prepared during major events and celebrations. Its significance in Bengali culture cannot be overstated, as it is an integral part of social customs and traditions.
The Hilsa, often referred to as the "king of fish," is essential to Bengali cuisine on both sides of the India-Bangladesh border. Among the various Hilsa varieties, the fish from the Padma River is particularly renowned for its rich fat content and thick, succulent texture. The Padma Hilsa is known for its exceptional flavour, shaped by the unique water conditions of the river. While Hilsa from the Ganga, Hooghly, and Mahanadi rivers is available, it is the Padma variety that is most prized during celebrations.