Indian Shrimp Facing an Upward Price Trend Despite Rupee Devaluation

Despite the Indian Rupee price hitting its lowest exchange rate against the US dollar, Indian shrimp export prices see an upward trend. The production cost of Indian shrimp surged due to the increasing feed and fuel prices. Additionally, increased rainfall in most of the region has caused a decrease in the production supply. The devalued rupee should bring down the price of Indian shrimp and bring up the demand. However, prices are increasing due to the surge in production costs and decreased supply. Suppliers plan to process only higher-grade shrimp in the coming months to make the season profitable.