(vasep.com.vn) Bumper shrimp demand and prices are paving the way for India to hit record seafood exports, reported the country’s Economic Times.
The financial year 2013-14 — running from April 1 last year to end of March this year — is turning out to be the best one in the history of seafood exports from India, as exports had already reached INR 250 billion ($4.4 billion) by February, said the newspaper.
This means they’re likely to hit INR 300bn ($4.9bn) by the end of the financial year, it said.
For the financial 2012-13 year, seafood exports totaled $3.5bn, of which around 65% came from vannamei alone, from farms in Andhra, Tamil Nadu, West Bengal and Orissa.
India finished the calendar year 2013 as the top shrimp supplier to the US, exporting a total of 94,211 metric tons.
The boost in Indian shrimp exports was driven by global shortage of shrimp caused by the mortality syndrome (EMS) in South East Asia, especially in top producing nation Thailand.
The lack of supply has doubled shrimp prices from India to $18 per kg, said the newspaper.