India’s shrimp export value down 13 percent in 2023, but “less severe than anticipated”

India’s year-to-date shrimp exports through May 2023 were down 13 percent by value, with a huge drop in earnings from its value-added exports.

Between January and May 2023, Indian shrimp exports were valued at USD 1.8 billion (EUR 1.6 billion), with year-on-year valuations dropping 23 percent in April and 22 percent in May. 

By volume, India’s shrimp export total was “less severe than anticipated,” according to Shrimp Insights Founder Willem van del Pijl.

“India’s shrimp export volume from January-May 2023 did not drop as far as expected. On the contrary, with 148,267 MT, the first quarter of 2023 recorded a 12 percent higher export volume than in 2022,” he said in a recent blog post.

Volumes dropped 14 percent in April and 8 percent in May.

“Based on broodstock import numbers and talk from India about the reduced stocking for 2023’s first crop, I expected exports in May to drop deeper. However, [it] was less severe than I anticipated,” van der Pijl said. “This suggests that the first crop was larger than expected or that in May Indian exporters had still been selling stock from last year.”

India’s year-to-date exports …

Photo courtesy of Nekkanti Sea Foods