10% drop in margin for seafood shippers this year on lower American demand

Impact of declining demand is visible already, with international shrimp prices shedding 7% y-o-y between December 2017 and February 2018

Realisations in dollars from seafood export are 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 this financial year, 500-700 basis points (bps) slower than the 23 per cent and 25 per cent rates in FY17 and FY18, respectively. The report say that's still robust, as that growth will come over a high base.

In value terms, exports are expected to cross $8 billion (Rs 539 billion), while volumes are seen