India’s shrimp exports closed out 2024 with a December trade volume of 67,933 tonnes, an increase of 13% on the last month of 2023. This contributed to a fourth-quarter export total of 206,104 tonnes (+15% year-on-year), and 733,148 tonnes for the full-year (+3%), according to new industry analysis from Shrimp Insights.
The total export value reached $4.96 billion, a 2% year-on-year increase, with Netherlands-based Shrimp Insights explaining that the increase in value was realised thanks to a strong upward price trend in the second-half of 2024.
In terms of products, raw Pacific white shrimp (Litopenaeus vannamei) accounted for 565,082 tonnes (+1%) of India’s 2024 total, raw black tiger shrimp (Penaeus monodon) – 41,512 tonnes (+22%), raw wild-caught – 598,804 tonnes (no change), and value-added – 66,750 tonnes (+7%).
The United States was India’s main shrimp export market, sourcing 303,506 tonnes of product in 2024 (+5%). It was followed by China with 139,673 tonnes (-2%), the EU’s 84,093 tonnes (+13%), Vietnam’s 42,974 tonnes (-3%) and Japan’s 38,487 tonnes (+6%).
With regards to prices, Shrimp Insights identified that the average export values showed that US prices saw an upward trend throughout the year, while for China, average export values only started to increase in September.
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, it said, adding that observers must wait and see how prices evolve when 2025’s first crop is harvested.
![ocean-with-david-attenborough[96]](https://dota6asppqhip.cloudfront.net/Pictures/380x253/1/0/8/342108_oceanwithdavidattenborough96_402723_crop.jpg)
