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Shrimp exports to US rise 15.6% in 2018

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 ICRA. 

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.

 

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