India Shrimp and Prawn Report: Production and Export Trends 2023

India is the third-largest shrimp producer in the world and the second-largest exporter. The U.S. is India’s largest export destination, followed by China. So far into 2023, India's frozen shrimp export value has been falling sharply as a result of significantly lower prices. Global prices continue to plunge as the market remains relatively oversupplied since H2-2022. However, this scenario has caused Indian producers to begin curtailing production. Output declines are expected for the rest of 2023 and next year. In turn, this development should support prices in the upcoming months, eventually leading to better export values.