Indian shrimp exports to get further boost with soaring prices of animal proteins

Prospects of Indian shrimps exports have gained further momentum with prices of animal proteins like beef, pork and poultry skyrocketing due to supply crunch and shipping constraints in the global market. The US and China are importing record volumes of shrimp and almost all varieties of shrimp have witnessed record-high price levels.

As per the latest data, the US imported a record 78,716 tonnes of shrimp in January at a unit value of $9.5 per kg as against 69,653 tonnes in the year-ago period and for a unit value of $8.6 per kg. India’s share stands at 29,518 tonnes, compared to 27,458 tonne in January 2021. In CY2021, Indian shrimp exports to US market had touched 340,387 tonnes from 271,839 tonnes in 2020.

Demand for shrimp is on the higher side in most markets. The trend was evident from the second half of last year and showed a stronger trend this year, especially from the US market. Demand is also high in China, the Far East, and the Middle East regions.

Indian production of shrimps has increased to 7,50,000 tonne, while Ecuador has crossed one million tonne. Shrimp farmers are stocking the farms in full capacity, following the good demand. In Q3 India India witnessed record broodstock (parent stock) imports to the tune of 38,950 pieces in November (growth of 49% y-o-y) and 40,720 pieces in December (a rise of 17% y-o-y), respectively. These imports were because of high demand from the farming community for shrimp seeds. Record stocking by farmers should result in a record harvest, subject to disease outbreak.

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