Indian shrimp for export. (Photo: Stock File)

Shrimp exports to US grow

INDIA
Saturday, June 16, 2018, 02:30 (GMT + 9)

Indian shrimp exports to the United States grew by 18 per cent in value terms in April and are likely to be higher in 2018 despite a global supply glut due to higher production in most countries.

Shrimp Association Tamil Nadu (Pattukottai) exporter and secretary Durai Murugan Balasubramanian informed that during the first four months of the year, Indian exports grew by 31 per cent compared to the same period last year, Financial Express reported.

In April, shrimp sales abroad increased by 22 per cent, to 16,869 tonnes year-on-year and represented about 36 per cent of US imports, totalling 45,688 tonnes.

India is the top exporter to the US, beating Indonesia and Ecuador. Food and Agriculture Organisation (FAO) also reports that Indian shrimp exports to the US increased by 39 per cent in 2017 with the US demand likely to remain robust .

Globefish, a division of FAO, recently reported that Indian shrimp production is estimated to increase by 10 per cent in 2018 provided the climate does not create major problems.

The decrease in anti-dumping tariff on Indian shrimp and its increased market acceptance led to a significant increase in shrimp supply from India and the average wholesale price of Indian shell-on vannamei was 6-10 per cent higher than the Ecuadorian product.

According to trade sources, Indian aquaculture production is estimated to touch a record 700,000 tonnes during the current fiscal year and reach 1 million tonnes by 2020.

However, entry of new players and countries in the supply chain has led to a glut in the market with shrimp prices in free fall. Some of the Indian farmers have not seeded their farms after incurring huge losses in the first quarter harvest.


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