Early mortality syndrome, which attacked Thailand’s shrimp industry in 2012, opened doors to opportunities for Indian shrimp exporters. And they capitalised on it. Today, India is the world’s largest exporter of frozen shrimps and prawns, and its share in world exports is growing like never before!
Neha Dewan | January 2017 Issue | The Dollar Business
If you are getting ready to relish a shrimp dish for dinner tonight - wherever you may be - chances are very high that the shrimps have been originally farmed, sourced and processed in India! As the world’s leading exporter of frozen shrimps and prawns, India has for a long time been the preferred choice for importers across the globe, particularly from US, Japan and Vietnam, among others. Having said that, with various regulatory measures playing spoilsport, the year 2016 has been somewhat mixed for its exporters in India.
Earlier in March 2016, US had hiked the anti-dumping duty on frozen shrimps entering its market – for India the duty increased from 2.96% to 4.98%. This was expected to have a direct bearing on India’s exporters as US is the largest market for Indian shrimps. However, the duty was soon rolled back in September, a move that calmed the nerves of many exporters who depend on the US market.
Other than the unpleasant experience with US, the exports business of shrimp has shown a steady performance over the last few years. India’s exports of frozen shrimps (of the variety that is most exported by India, HS Code: 03061790) has gone up from $1.01 billion in FY2014 to $1.22 billion in FY2015 and then to $2.40 billion in FY2016 – a growth of ...
Designed by The Dollar Business Intelligence Unit, the test is based on five areas of modern-day parameters in exports.
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