In November 2024, India exported 67,573 MT of shrimp, 9% above the previous record of 2021 and 22% higher than in November 2023. The year total has achieved 665,215 MT, still 1% behind the last record of 2021 but ahead 2% of 2023. Below some more details:
Products:
- Raw L. vannamei (03061720):
- November 2024: 49,463 MT = +20%
- Year-Total: 514,908 MT = +1%
- Raw P. monodon (03061740):
- November 2024: 5,405 MT = +58%
- Year-Total: 36,747 MT = +18%
- Value-added products (160521/29):
- November 2024: 7,127 MT = +26%
- Year-Total: 59,647 MT = +5%
Markets (Top 5):
- US
- November 2024: 26,876 MT = +13%
- Year-Total: 275,682 MT = +4%
- China
- November 2024: 14,146 MT = +89%
- Year-Total: 128,245 MT = -1%
- EU
- November 2024: 7,613 MT = +23%
- Year-Total: 76,223 MT = +13%
- Vietnam
- November 2024: 5,657 MT = +62%
- Year-Total: 35,350 MT = -14%
- Japan
- November 2024: 2,565 MT = -4%
- Year-Total: 35,216 MT = +6%
The revival of exports to China and Vietnam and the continued increase in exports to the US strongly signal that the supply shortage has been solved and that harvests of the last crop of 2024 have been significant in Andhra Pradesh and other farming regions.
The continued surge of P. monodon exports confirms that more farmers in Gujarat and the South of Andhra Pradesh have opted to stock P. monodon this year. They have stocked in February and March and harvested large sizes from September onwards.
The continued upward price trend amidst growing exports confirms that demand is strong. This trend is expected to continue into December and possibly January. It will provide some relief to the Indian industry, which has gone through the most serious crisis it has experienced in the last 10 to 15 years.
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