Shrimp exports may get impacted by Global decline in prices

Posted by Daily Shipping Times on 04-04-2018        Tweet

CHENNAI: The drop in global shrimp prices seems to be a cause of worry for the Indian aquaculture sector, even as the country’s seafood exports witnessing a 20 per cent growth in the first three months of the calendar year. The price fall by Rs. 100-150 a kg was mainly attributed to the sluggish demand in the US market. The long winter in the US has resulted in low consumer offtake which is reported to be one of the reasons for a sluggish demand. Automatically, stocks started piling up in super markets due to continued exports from India.

MPEDA figures reveal that out of the 11,34,948 tonnes of seafood exports in FY17, frozen shrimp accounted for 38.28 per cent and the US imported 1,88,617 tonnes followed by the South-East Asia.