Page 2 - Shrimp Exports

Shrimp exporters seek govt help ahead of US duty review on shipments

Indian shrimp exporters are keeping their fingers crossed as the US is set to begin its review of anti-dumping and countervailing duties on shrimp next month, and are seeking government intervention to help secure relief amid stiff global competition, industry experts say. The exporters said that the formula of the US to calculate these duties is incorrect, and the Indian government should take up the issues with them bilaterally, as domestic traders are facing tough competition from Ecuador and Vietnam in the American market. "The US authorities consider India's RoDTEP and duty drawback schemes as incentive schemes, which is not the case. Both are WTO-compliant duty refund schemes only," Kolkata-based seafood exporter and MD of Megaa Moda Yogesh Gupta said. He added that the US uses a 'zeroing' method to impose anti-dumping duty on shrimp, which is not correct and needs to be re-looked as it distorts the calculation of the margin of dumping. He said that exporters are concerned an

Tariff impact: Shrimp feed prices drop by ₹4/kg to reimburse farmers

The relief has also come at a time when shrimp production season is reaching its peak

Tariff pause eases farm worries, Andhra govt forms panel on shrimp exports

Sources said one of the mandates of the committee is to study India and Ecuador's shrimp production patterns and exports

US tariffs' fallout: Andhra CM writes to Goyal on shrimp farmers' concerns

In his letter to Goyal, Naidu appealed to the Centre "to come to the rescue of aqua farmers by negotiating with the US to exempt the aqua products from this additional duty"

Shrimp farming: Trump's tariffs shockwaves rock Andhra Pradesh shores

Trump's tariffs, falling shrimp prices, and fears of additional US levies, spark a crisis in the state's politically vital aquaculture sector. SHINE JACOB elaborates

India's shrimp traders fear $1 bn loss as long-term US contracts face heat

The price drop is attributed to shrimp processors halting their purchase plans, which could severely impact growers

India's shrimp exports to US seen badly hit due to high reciprocal tariffs

Experts suggest scouting new markets in China, Europe and Middle-East for Indian shrimps

Avanti Feeds, Apex Frozen bleed up to 18% on Trump's 27% reciprocal tariff

The drop in these shrimp stocks followed the imposition of a 27 per cent reciprocal tariff on India by US President Donald Trump

Avanti Feeds, Apex Frozen to gain as shrimp industry eyes revival in 2025

Apex Frozen Foods skyrocketed up to 16.04% to hit an intraday high of Rs 276.35 per share, while Avanti Feeds zoomed as much as 8.97% to hit an intraday high of Rs 653.35 per share

No blanket ban on Indian shrimp in US, curbs only on wild-caught shrimp

The US has not imposed a blanket ban on shrimp imports from India, including Kerala, and the restrictions are targeted only at wild-caught shrimp, the government said on Tuesday. In a written reply to Lok Sabha, Rajiv Ranjan Singh, Union Minister of Fisheries, Animal Husbandry and Dairying, said, "USA has not implemented a blanket ban on Indian shrimp imports including Kerala. The restrictions are specifically targeted at wild-caught shrimp, primarily due to concerns regarding sea turtle conservation." While exports of wild-caught shrimp to the US are currently limited, shipment of wild-caught shrimp to other countries remain unaffected, he added. The minister informed that the Department of Commerce, through Marine Products Export Development Authority (MPEDA), has been proactively taking up the matter with USA through the embassy of India in Washington DC. The department through MPEDA in consultation with both the US Department of State and the National Oceanic and Atmospheric ..

CDSL, Kaveri Seeds in focus post Budget 2024 proposals: SAMCO Securities

India Budget 2024 impact: Shares of Kaveri Seeds and Mangalam Seeds zoomed up to 13 per cent after FM Nirmala Sitharaman proposed measures for the sector.

At $7.3 billion in FY24, India's seafood exports touched an all-time high

Frozen shrimp remained the leading export item in the Indian seafood basket, generating Rs 40,013.54 crore ($4,881.27 million), while the US emerged as the top market

Avanti Feeds zooms 9.5% on June 18; stock may top Rs 700-mark; details here

Avanti Feeds share break out: After staying range-bound since the start of the year, Avant Feeds stock price broke out of the consolidation phase on June 7

India seeks EU nod for export of farmed shrimps by newly listed firms

India has demanded the European Union to provide permission to newly-listed fishery companies for the export of farmed shrimps and reduce the sampling frequency at the EU border inspection post from the current level of 50 per cent. These issues were flagged by Union Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala in a meeting with the EU delegation led by Virginijus Sinkevicius, European Commissioner for Environment, Ocean and Fisheries here on Thursday. "Various bilateral issues on fisheries and aquaculture were discussed" in the meeting, an official statement said. In the meeting, Rupala requested the EU to reduce sampling frequency for inspection of Indian farmed shrimps at border inspection post of the EU from the current level of 50 per cent to the previous level of 10 per cent. He also requested for re-listing of de-listed fishery establishments, and granting permission to the newly listed fishery companies for export of aquaculture shrimps from India

Shrimp exports to witness 5% revenue growth in FY24: Crisil Ratings

India's shrimp exporters are expected to witness 5 per cent growth in revenue in 2023-24, mainly driven by an increase in demand from China, a report said on Tuesday. The report also said that better demand is likely to encourage shrimp processors to expand their capacities. The shrimp sector will see revenue growth of 5 per cent year-on-year in fiscal 2024, driven by increasing demand from China, which will shore up exports to a near lifetime high of USD 5.3 billion seen in fiscal 2022, Crisil Ratings said in a report. This growth will largely be volume-driven, allowing operating margin to bounce back to 7.5 per cent as costs soften, it added. Debt is likely to contract and part-funding such capex and incremental working capital requirements will be comfortably absorbed by the strong balance sheets of the players, it added. India, Ecuador and Vietnam are the top three suppliers of shrimp, while the US, EU and China are the top three consumers. India supplies 70 per cent of its .

How India has gone to become the world's second largest shrimp producer

Once dogged by diseases, the shrimp sector saw a turnaround post-2009

Apex Frozen Foods hits 20% upper circuit, rises 46% in a week post Q4 nos

Apex Frozen Foods' Q4FY21 sales volume grew by around 30 per cent YoY on the back of easing of the transport situation

Shrimp exports to grow by 20% this year; India may regain top spot: Report

Shrimp exports are expected to grow by 20% to about $4.3 billion in 2021, driven by a revival in demand and restoration of supply chains that were disrupted last year by the Covid pandemic

India's seafood exports narrowly miss $7-billion target for 2019-20

Among factors that impacted exports were sluggish demand, cancellation of orders, and reduced & delayed payments

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