Coronavirus effect: Shrimp exports to decline on weakening global demand

Domestic production is estimated at over 1 million tonnes. Its sizeable shrimp consumption makes China a key price-mover in the global markets

India’s shrimp exports are likely to decline 10-15 per cent in the next few quarters because of weakening global demand following the coronavirus outbreak in China, the biggest importer of Indian seafood after the United States.

“China largely imports lower-value added and block frozen shrimp from India, demand of which is serviced by several small exporters and a few large players. Companies with high exposure to Chinese markets would feel immediate impact as demand falls. Smaller companies with limited financial flexibility will among most-affected. The broader impact on India would stem from not only a reduction in Chinese demand but a