Shrimp Price in India - 2023
Contents:
- Shrimp Price in India (FOB) - 2023
- Shrimp Price in India (CIF) - 2022
- Shrimp Exports in India
- Shrimp Imports in India
Shrimp Price in India (FOB) - 2023
The average shrimp export price stood at $6,794 per ton in June 2023, standing approximately at the previous month. Overall, the export price showed a mild setback. The growth pace was the most rapid in March 2023 an increase of 1.4% m-o-m. Over the period under review, the average export prices reached the maximum at $7,909 per ton in September 2022; however, from October 2022 to June 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($8,244 per ton), while the average price for exports to China ($5,241 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.8%), while the prices for the other major destinations experienced a decline.
Shrimp Price in India (CIF) - 2022
In 2022, the average shrimp import price amounted to $13,460 per ton, increasing by 23% against the previous year. Over the period under review, the import price saw a prominent increase. The most prominent rate of growth was recorded in 2014 an increase of 105%. As a result, import price attained the peak level of $25,257 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($26,295 per ton), while the price for the UK ($4,506 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Exports in India
In 2022, approx. 743K tons of shrimps were exported from India; approximately equating the year before. The total export volume increased at an average annual rate of +3.3% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 27% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, shrimp exports reached $5.8B in 2022. The total export value increased at an average annual rate of +5.5% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Shrimp in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2,377 | 2,239 | 3,080 | 3,093 | 9.2% |
| China | 935 | 573 | 745 | 743 | -7.4% |
| Japan | 334 | 309 | 351 | 353 | 1.9% |
| Vietnam | 194 | 184 | 258 | 259 | 10.1% |
| Canada | 117 | 130 | 174 | 175 | 14.4% |
| United Arab Emirates | 174 | 150 | 144 | 154 | -4.0% |
| Belgium | 112 | 114 | 140 | 140 | 7.7% |
| United Kingdom | 122 | 108 | 133 | 134 | 3.2% |
| Russia | 85.1 | 76.0 | 119 | 119 | 11.8% |
| Netherlands | 84.0 | 82.9 | 110 | 111 | 9.7% |
| Others | 401 | 341 | 495 | 507 | 8.1% |
| Total | 4,935 | 4,306 | 5,749 | 5,788 | 5.5% |
Top Export Markets for Shrimp from India in 2022:
- United States (344.8K tons)
- China (125.1K tons)
- Japan (41.2K tons)
- Vietnam (40.6K tons)
- United Arab Emirates (27.9K tons)
- Belgium (19.4K tons)
- Canada (19.3K tons)
- Netherlands (16.1K tons)
- United Kingdom (15.7K tons)
- Russia (14.0K tons)
Shrimp Imports in India
In 2022, approx. 2.7K tons of shrimps were imported into India; shrinking by -46.5% compared with 2021. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 43%. As a result, imports reached the peak of 5K tons, and then contracted markedly in the following year.
In value terms, shrimp imports declined remarkably to $36M in 2022. In general, imports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. As a result, imports reached the peak of $55M, and then contracted remarkably in the following year.
| Import of Shrimp in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 18.9 | 23.8 | 31.9 | 20.5 | 2.7% |
| China | 0.4 | 1.2 | 6.5 | 4.2 | 119.0% |
| United Kingdom | 1.8 | 2.4 | 1.5 | 1.2 | -12.6% |
| Ecuador | 3.1 | 0.9 | 0.7 | 1.0 | -31.4% |
| Japan | 0.2 | 0.4 | 1.0 | 0.7 | 51.8% |
| Vietnam | 2.1 | 0.6 | 0.1 | 0.6 | -34.1% |
| Canada | 0.9 | 0.6 | 0.6 | 0.4 | -23.7% |
| Netherlands | 0.3 | 1.3 | 0.5 | 0.4 | 10.1% |
| Argentina | 0.3 | 0.6 | 0.6 | 0.4 | 10.1% |
| South Africa | 0.7 | 0.3 | 0.5 | 0.3 | -24.6% |
| Belgium | 0.7 | 0.4 | 0.4 | 0.3 | -24.6% |
| South Korea | 0.2 | 0.2 | 0.4 | 0.3 | 14.5% |
| Others | 8.8 | 8.2 | 10.2 | 5.8 | -13.0% |
| Total | 38.4 | 40.8 | 55.0 | 36.1 | -2.0% |
Top Suppliers of Shrimp to India in 2022:
- United States (781.3 tons)
- China (519.3 tons)
- United Kingdom (261.8 tons)
- Ecuador (138.0 tons)
- Netherlands (75.5 tons)
- Vietnam (75.1 tons)
- Japan (59.5 tons)
- South Africa (53.7 tons)
- Argentina (38.3 tons)
- Canada (36.9 tons)
- South Korea (36.7 tons)
- Belgium (29.0 tons)
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