India’s shrimp exports to the US were
15.6% higher in 2018 to 248,127 tonne and accounted for 36% of the total
shrimps imported into the nation, according to the latest data of US agency
National Oceanic and Atmospheric Administration.
US imported 695,723 tonne of shrimp in
2018, a 4.8 % higher than the previous year. Indonesia comes second with
132,344 tonne and is followed by Ecuador with 75,891 tonne. India is the
second-largest fish producer in the world after China and accounts for nearly
6% of the global fish production. In December, India exported 21,913-tonne
shrimp to US, against 18,965 tonne in the year-ago period. Indian shrimp export
growth is expected to slow down after four years of robust growth due to stiff
competition from other suppliers, according to a report by credit rating agency
The report says volume growth is likely to
be 7-10% CAGR during CY2018-19 as against 17% CAGR between CY2013-17 and adds
that stiff competition could result in a demand-supply mismatch and induce
volatility in shrimp prices.
According to sources, Indian aquaculture
output is estimated to touch a record 7 lakh tonne during the current fiscal
and reach 1 MT by 2020. Seafood exports for the last fiscal touched $7.08
billion with 13,77,244 tonne exported, against 11,34,948 tonne and $5.77
billion in the year-ago period, according to state-run Marine Products Exports
Development Authority data.