Indian Vannamei Shrimp Production Forecast To Decline by 20% in 2024 Amidst Supply Shortages

Indian Vannamei shrimp production is currently low due to farmers facing significant losses in recent years, prompting a shift to other alternatives. Additionally, off-season conditions have led to high prices. Indian shrimp faces competitiveness challenges compared to origins like Vietnam and Ecuador due to high fuel and labor costs. According to experts, supply is expected to improve in the next quarter with the next harvest, but high prices are likely to remain due to an estimated 20% reduction in crops in 2024.