According to the latest data of US agency National Oceanic and Atmospheric Administration, India exported 258,837 tonne of shrimp during January-November 2019 against 225,853 tonne a year ago.
Indian shrimp exports to the US for the first eleven months of 2019 is higher by 14.6% year-on year. Total US import of shrimps for the eleven-month period is only marginally higher at 636,999 tonne compared to 632,989 tonne in 2018. India is the largest producer of shrimps in the world and accounts for nearly 6% of the global fish production.
According to the latest data of US agency National Oceanic and Atmospheric Administration, India exported 258,837 tonne of shrimp during January-November 2019 against 225,853 tonne a year ago. In November 2019, India exported 28,290 tonne of shrimp, which is 26% higher than 22,481 tonne exported a year ago. During 2018, India accounted for 247,783 tonne in the total US import of 695,332 tonne.
The impact of implementation of Seafood Import Monitoring Programme (SIMP) for shrimp exports to the US is a key factor. SIMP mandates stringent data requirements to trace the entire supply chain of seafood from the point-of-harvest to the point-of-entry in the US.
Meanwhile, Indian shrimp exports to China is seen increasing with the India reporting in October 2019 that the country's marine exports to China are expected to cross the $1-billion mark by 2019 end, having touched almost $800 million in the first nine months of 2019.
According to a trade report by FAO's Globefish, which is responsible for information and analysis on international fish trade and markets, China is now the world's No. 1 market for shrimp and a strong demand from Beijing kept the international shrimp trade stable in 2019. Globefish reports that during the second half of 2019, international shrimp trade escaped another market crash supported by strong imports by China. However, the three other large traditional markets — the US, the EU and Japan — posted negative import growths during this period.
Indian shrimp production is estimated to be on the lower side to weather-related issues. Food and Agriculture Organization (FAO) reports that pond stocking in India during the main farming season of May–July has been much lower this year, suggesting a continuation of supply shortage for the rest of the year. Heavy rainfall in July affected production in the southern and eastern aquaculture belts of the country. Indian industry sources indicate a 30-40 % production drop in 2019 compared with 2018, according to the report.
Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market's Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.