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India to outperform in shrimp exports in 2017: UN report

Bumper harvesting of vannamei shrimp to lead to a 41% jump in exports

Nirmalya Behera  |  Bhubaneswar 

Shrimps

Amid growing uncertainties in the trade, exporters from have now a reason to cheer as the country is expected to be the standout performer in 2017 along with Chile.
 
Indian is set to surge by 41 per cent more due to bumper harvesting of vannamei

"Of the world's major exporters, and Chile are expected to be the standout performers in 2017. In India's case, bumper harvests of aquacultured vannamei is the main factor behind expectations of a $2.3 billion increase in Indian in 2017," said a report by Globefish, which is a unit within the Food and Agriculture Organisation (FAO) of the United Nations.

The report on demand analysed the market situation until June 2017.

The report will provide respite to Indian exporters at a time when the (EU), the third largest market, is contemplating a complete ban on Indian over quality issues.

For Chile, a combination of a recovery in salmon harvest volumes and the high price level for salmon products will equate to a projected rise of $1.6 billion, marking a rise of 30 per cent, in export value, it added.

from Ecuador primarily include and tuna, while Peru fishmeal and fish oil. Norway is primarily known for the export of salmon, ground ish and small pelagics. Given that from these three countries are also expected to swell this year, a substantial increase in the overall yearly is logical.

On the side, both developed and developing markets are expected to perform well in 2017.

India to outperform in shrimp exports in 2017: UN report


Significant import growth is forecast for the South East Asian emerging markets in particular, while the traditional "big three" comprising the UNited States (US), and will all see a boost in demand due to improving economic conditions, said the report.

Driven by robust demand growth worldwide, a substantial proportion of global production will be exported. The value of world trade in fish and fishery products is expected to increase by a projected 5.8 per cent to $150.9 billion in 2017.

As per an earlier report of FAO, had emerged as the largest exporter of shrimps in the world by exporting 438,500 tonnes in 2016, marking a 14.5 per cent increase over the last year. The top five exporters to the international market in 2016 were India, Vietnam, Ecuador, Indonesia and Thailand.

First Published: Wed, October 04 2017. 02:05 IST
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