Global Shrimp Suppliers Face Uncertain Future in 2024 as Oversupply Persists
The global shrimp industry is expected to face a challenging year in 2024, with oversupply continuing to be a major concern. Rabobank analysts predict that global shrimp production will remain flat at around 3.9 million metric tons, while demand is expected to grow only marginally. This imbalance is likely to
India’s Shrimp Industry Navigates Turbulent Waters Amidst Production Woes and Price Challenges
India’s shrimp industry, once a thriving sector contributing significantly to the country’s seafood exports, is currently grappling with a multitude of challenges that threaten its sustainability. The high costs of production, coupled with depressed shrimp prices, have left many shrimp farmers struggling to stay afloat. The escalating costs of feed,
India’s Seafood Export Target for FY24: Unlikely to Be Met
India’s seafood export target for FY24 is unlikely to be met due to several factors, including tepid buying from key markets such as the US, China, Japan, and Europe. Additionally, there is weak demand for peeled frozen products in the US retail market. Exporters do not see any substantial improvement
India Aims for USD 1.6 Billion Boost in Value-Added Seafood Production by 2030
India’s Marine Products Exports Development Authority (MPEDA) is embarking on an ambitious plan to double the country’s value-added seafood production, targeting a 20 percent increase by 2030. Recognizing the heightened demand for value-added seafood in key markets such as the U.S., E.U., Japan, and Asia, MPEDA Chairman D V Swamy
Global Shrimp Prices Stabilize at Unsustainable Levels, Putting Farmers Under Pressure
The global shrimp market is facing a challenging situation as prices stabilize at “unfavorably low levels,” leading to financial hardships for many farmers. This trend is particularly evident in India, where raw vannamei exports averaged USD 6.32 (EUR 5.80) per kilo in September, marking a significant decline from USD 7.54
India’s Exports Soar: Nordic-Baltic Region Emerges as Key Market with 39% Growth in 5 Years
In a notable surge, India’s exports to the Nordic-Baltic region have witnessed a remarkable 39% increase from 2018-19 to 2022-23, according to Union Commerce Minister Shri Piyush Goyal. Addressing the CII India Nordic-Baltic Business Conclave 2023 in New Delhi, Goyal welcomed companies from the Nordic-Baltic region to invest in India,
India’s Shrimp Exports Maintain Strong Momentum in Q3 2023
India's shrimp export sector continues to defy expectations, registering a 6% increase in Q3 2023 compared to the same period in 2022. Strong demand from key markets, coupled with enhanced quality and sustainability measures, has fueled this growth.
“Chinese Ambassador Boosts Ties in Sri Lanka’s Northern Province, Pledges Support for Seafood Exports
The Chinese Ambassador to Sri Lanka, Qi Zhenhong, made a significant visit to the country’s Northern province, bordering the South Indian state of Tamil Nadu, extending invitations for locals to export seafood to China. In a diplomatic move, Beijing assured that it would not export any fisheries products to the
Indian and Ecuadorian Shrimp Suppliers Face Mounting Pressure in Chinese Market
Indian and Ecuadorian shrimp suppliers are facing a confluence of challenges in the Chinese market, leading to financial losses and heightened uncertainty for their businesses. Already grappling with low shrimp prices and a demanding market environment, these exporters encountered further setbacks at the China Fisheries and Seafood Expo (CFSE) in
Riding the Waves: US Shrimp Imports Poised to Surge After Over a Year Underwater
American shrimp aficionados rejoice - there is light at the end of the tunnel after over a year of shrinking shrimp supplies. New data from the National Oceanic and Atmospheric Administration (NOAA) suggests shrimp import volumes into the United States have posted year-over-year increases for three months straight.
Compliance with US Marine Mammal Protection Act: A Critical Factor for India’s Seafood Exports
India's seafood export industry is facing a significant challenge due to its need to adhere to the strict regulations of the US Marine Mammal Protection Act (MMPA). This act prohibits the intentional killing of marine mammals in commercial fisheries, a requirement that has far-reaching implications for India's seafood sector.
Securing Sustainable Seafood Exports: Marine Mammal Conservation Takes Center Stage
The inextricable link between marine mammal conservation and India's seafood export industry was underscored at a recent workshop held at the 16th Agricultural Science Congress (ASC). Experts highlighted the importance of adhering to the US Marine Mammal Protection Act (MMPA), which mandates the protection of marine mammals during commercial fishing
India’s Shrimp Exports Face Potential Disruption as US Senator Proposes Stiff Tariffs
The Indian seafood industry is facing a potential storm as a US senator has proposed imposing steep tariffs on shrimp imports from India. The proposed India Shrimp Tariff Act, introduced by Louisiana Senator Bill Cassidy, aims to levy duties of 10%, 20%, and eventually 40% on Indian shrimp imports, effectively