export

In a reversal of trend, the Indian exporters plan big scale ferrying of this premium aquatic food, shrimp to China as the demand shoots up driven by the consumption in the neighbouring country. China will be the next market that is new the Indian shrimp exporters, say leading industry players.

"China, which typically has been the large producer of shrimps, is becoming the world's largest customer of this premium aquatic meals. In the future, India will dsicover China as the biggest market," claims Kamlesh Gupta, Chairman, WestCoast Group, among the leading seafood exporters in the united states.

According to a report by Globefish, a division of Food and Agriculture Organisation (FAO) of the UN, India and Chile are anticipated to be the standout performers in 2017. Bumper harvests of aquacultured vannamei shrimp is the factor that is main this status, said the report. At present, the markets that are top seafood exports from Asia would be the US, Europe, Japan, China and South East Asia. Frozen shrimp contributes to 38.28 per cent share in amount and 64.50 per cent in value. Asia has set a target of earning $15.28 billion (Rs 1 crore that is lakh from the shrimp exports by 2022. Within the last few financial year, the country obtained $5.78 billion (compared to $4.69 billion in the last year) from exporting 1.13 million tone of seafood. India became the biggest shrimps exporter on earth with 438,500 tone in 2016, a growth that is y-o-y of per cent.

Gupta says, Asia using its superior quality manufacturing and processing of shrimp attracts buyers from the US and Japan. As per an earlier FAO report, Asia became the biggest shrimps exporter into the world with 438,500 tone in 2016, a y-o-y growth of 14.5 %. The top five shrimp exporters to the market that is international 2016 were India, Vietnam, Ecuador, Indonesia and Thailand.