India closes the year with 13% year-over-year growth in December and 15% year-over-year growth in Q4. Compensating for weaker performance in Q3 and bringing the year total to 733,148 MT, a 3% year-over-year increase. The total export value reached $4.96 billion, a 2% year-over-year increase. The increase in value was realized thanks to a strong upward price trend in the second half of 2024. More details are below.
- Total:
- December 2024: 67,933 MT = +13%
- Q4 2024: 206,014 MT = +15%
- Year-total: 733,148 MT = +3%
- Products:
- Raw L. vannamei
- December 2024: 50,175 MT = +7%
- Q4 2024: 148, 223 MT = +10%
- Year-total: 565,082 MT = +1%
- Raw P. monodon
- December 2024: 4,766 MT = +69%
- Q4 2024: 18,453 MT = +58%
- Year-total: 41,512 MT = +22%
- Raw wild-caught
- December 2024: 5,891 = +13%
- Q4 2024: 17,808 MT = +10%
- Year-total: 59,804 MT = 0%
- Value-added
- December 2024: 7,102 MT = +30%
- Q4 2024: 21,529 MT = +24%
- Year-total: 66,750 MT = +7%
- Raw L. vannamei
- Markets:
- US
- December 2024: 27,823 MT = +12%
- Q4 2024: 83,754 MT = +12%
- Year-total: 303,506 MT = +5%
- China
- December 2024: 11,428 MT = -6%
- Q4 2024: 39,270 MT = +24%
- Year-total: 139,673 MT = -2%
- EU
- December 2024: 7,870 MT = +18%
- Q4 2024: 24,612 MT = +23%
- Year-total: 84,093 MT = +13%
- Vietnam
- December 2024: 7,623 MT = +126%
- Q4 2024: 16,829 MT = +66%
- Year-total: 42,974 MT = -3%
- Japan
- December 2024: 3,271 MT = +2%
- Q4 2024: 9,601 MT = +6%
- Year-total: 38,487 MT = +6%
- US
Average export values show that US prices have seen an upward trend throughout the year, while for China, average export values started to increase only in September 2024. Overall, the upward price trend reflects the more optimistic sentiment in India’s farming sector, where farmers stocked their ponds at considerably higher levels than in 2023 to meet demand from processors. We must wait and see how prices evolve when 2025’s first crop is harvested.
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