Seafood Of India

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Welcome to India's first Exclusive Seafood Portal

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India’s Shrimp Exports Maintain Strong Momentum in Q3 2023

India’s shrimp export sector continues to exhibit remarkable resilience despite facing challenging market conditions. According to the latest data from consultancy Shrimp Insights, India’s total exports of vannamei and black tiger shrimp in the third quarter of 2023 reached 194,000 tonnes, marking a 6% increase from the same period in 2022. This impressive performance comes close to matching the record exports achieved in 2021.

The robust growth in shrimp exports is attributed to several factors, including strong demand from major markets such as the United States, Europe, and Southeast Asia. Additionally, India’s shrimp producers have implemented effective measures to enhance the quality and sustainability of their products, further strengthening their competitive edge in the global market.

The United States remains the largest importer of Indian shrimp, accounting for nearly 40% of the total exports in Q3 2023. Demand from Europe also remains robust, with exports to the region increasing by 12% compared to the same period in 2022. Southeast Asia, particularly Vietnam and Thailand, continues to be a significant market for Indian shrimp, with exports to the region growing by 10% in Q3 2023.

Despite the positive outlook, Indian shrimp exporters face certain challenges, including rising input costs, particularly for feed, and potential disruptions in global supply chains. Additionally, the ongoing economic slowdown in major markets could dampen demand in the coming months.

Nevertheless, the Indian shrimp industry remains optimistic about its long-term prospects. The government’s initiatives to promote shrimp farming and processing are expected to further boost production and exports in the years to come. Moreover, the industry’s focus on sustainability and innovation is likely to enhance its competitiveness and position it well to capture a growing share of the global shrimp market.

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