Frozen Shrimp Processor from Indonesia Expects Exports to Increase by 10%-12% in Q3 2022

A shrimp processor in Indonesia mentioned they were expecting their frozen shrimp exports to continue going strong, estimating exports to increase by at least 10% MoM in Q3 2022. Most of their products are exported to the US. Even with the high rate of inflation in the US, demand for frozen shrimp exports has not stopped. The processor targets to close the year with a revenue of $195 million. Most of the products shipped to the US are value-added and cooked shrimp products. They are also planning to open new operations in the EU and other strategic countries, such as South Korea. They are also expanding their domestic business by partnering with other processing plants.