Indian seafood exports will see slow growth with low shrimp prices this FY2018

Image Soiurce: Prominent

Aug 3, 2018

The seafood exports probably will show a slow growth rate FY2018 as shrimp prices continue to remain low and watchful farmers will go slow on production.

Being the most preferred seafood from India, global sales of shrimp sale is already down by 20 per cent. The fear of white spot disease and lower prices forced many farmers to go for partial harvest, resulting in small-sized shrimp, which fetch lower returns compared with the fully grown ones.

“Lower prices have discouraged aquaculture farmers from going for more stocking in the farms for the next harvest, which will be done after a few months,’’ said Muthukaruppan, former president of the Indian Society of Aquaculture Professionals.

“Following tightening of quality standards in the European Union this year, exporters were focusing more on the US market as it is the largest buyer of Indian seafood with about 33 per cent share.  The oversupply pulled the prices down,’’ said Muthukaruppan. The Last month, shrimp prices showed signs of improvement only to go down again. “Farmers are cautious as they lost money in the last harvest. Unless the prices stabilize, they may not stock more,” said Balasubramaniam, general secretary of the Shrimp Farmers Federation of India.

 

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