India’s export of shrimps to the U.S. grew 18 percent in value terms in April, the slowest pace in eight months.
Shrimp imports in the U.S. have been tapering off in the last couple of months because of the extended winter. The U.S. total shrimp imports grew by 4 percent in April in terms of volumes, taking the total imports to 45,688 metric tonnes, according to the latest data released by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. India remained the largest exporter of shrimp to the U.S., accounting for nearly 35 percent of the shipments during the month.
The increase in demand is primarily due to shrimp price correction during the month, Mr. KS Choudary, Executive Director of India’s largest shrimp exporter Apex Frozen Foods Ltd., said recently.
“We are confident that the increase in consumption will keep the demand firm and steady”, he further added. Shrimp prices fell for the sixth consecutive month in April. Shrimp realisations fell to $9.56/kg due to strong supply conditions in the international market. However, this price correction has come to an end, said Choudary.
India’s shrimp exports have been continuously rising. Domestic shrimp exporters have emphasised on lower-density shrimp farms to control diseases, while maintaining quality across the value chain, which has led to a rise in exports, according to a Crisil report. India’s shrimp production doubled, and helped it grab the opportunity created by lower supplies from Asia.