Shrimp Exports

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

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 ..

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.

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 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 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

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 .

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

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

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

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

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

EU has stringent norms on accepting consignments has deterred Indian suppliers.

India exports seafood worth $2,300 mn to American market with flagship item being frozen shrimp, which is exempted from tariff and is not covered under GSP regime

In 2018, India met 35% of shrimp imports by the US, which is the largest market for Indian exporters

Shrimp sourced from India accounts for more than one out of every three pounds of shrimp imported into the US

India is expected to benefit from the sanction imposed by US on China coupled with increasing import of value-added shrimp by US, leading to a growth of about seven to 10 per cent per annum in CY 2019

From 2016 through August 2018, India accounted for 33 per cent by volume of all non-bred frozen warmwater shrimp imports into the United States

Realisation (in dollars) from seafood export is expected to drop by a tenth in 2018-19, with a surge in production of Vannamei shrimp from key producing nations and lower American demand.According to a report by CRISIL Research, seafood export will grow 17-18 per cent in this financial year, 500-700 basis points (bps) slower than the 23 per cent and 25 per cent rates in FY17 and FY18. "Still robust, as that growth would come over a high base," it said.In value terms, export is expected to cross $8 billion (Rs 539 bn). Export volume is seen growing 20-21 per cent, apace with the past two years, the report added.Realisations from the US, the largest importer of Indian shrimp, rocketed during FY14 and FY15 but softened in FY16 as supply improved.The impact of declining demand is visible already, as international shrimp prices traded seven per cent year-on-year lower on average between December 2017 and February 2018. Intensifying to a 11 per cent drop in March and expected to fall ...

There was growing concern that the EU was seriously worried over the use of antibiotics in Indian shrimps- a fact that surfaced continuously in its findings