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February 7, 2014

India

Record Increase in Shrimp Exports

 

From April to December 2013, there was a whopping increase in Indian shrimp exports, up 65.41% compared to the same period in 2012.  During that nine-month period, India exported 229,010 metric tons of shrimp worth $2.4 billion.

 

According to Anwar Hashim, a leading exporter and former president of Seafood Exporters Association of India, said the surge in exports was due to two factors: the fall in production and export of shrimp from other countries in Southeast Asia and the lowering of the countervailing duty (CVD) on Indian shrimp in the United States.  In September 2013, the United States reduced the CVD duty to zero, versus an earlier rate of 5.85%, which resulted in a big increase in Indian shrimp exports to the USA.

 

Vietnam, China, Korea and Taiwan all imported more shrimp from India than last year, mainly for re-export.

 

Production of farmed shrimp in other Southeast countries has been reduced by the spread of early mortality syndrome (EMS).  For example, Thailand, the world’s second largest producer of farmed shrimp, saw its production drop by almost fifty percent.  The spread of EMS has also caused global shrimp prices to increase by around $2-$3 a kilogram over last year.

 

The United States is the largest importer of Indian shrimp, accounting for 51.24% of Indian shrimp exports, followed by other countries in Southeast Asia (16.10%),  the European Union (15.82%) and Japan (4.94%).

 

Source: Business Standard.  Record Increase in India’s Shrimp Exports/Whopping Increase in Shrimp Exports This Fiscal; Export Earnings Shoot Up 90%.  George Joseph.  February 6, 2014.

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