Indonesia's shrimp exports in the third quarter of 2024 increased 2% YoY

Published Nov 15, 2024

Tridge summary

In the third quarter of 2024, Indonesia experienced a 2% year-over-year increase in shrimp exports, marking the first such rise since quarter two of the same year, with a total export volume of 52,476 metric tons. This increase was primarily driven by an 11% rise in exports in August, following a flat performance in July and August. The Q3 growth was largely due to a 7% increase in raw L. vannamei shrimp exports, despite a 1% decline in value-added and raw marine shrimp exports. Notably, exports to the European Union surged by 80%, making it Indonesia's third-largest market, with the Netherlands being the main importer. This growth in exports to the EU, which accounted for 42% of the year-to-date total, suggests a potential diversification of Indonesia's export markets away from its traditional Asian buyers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Indonesia’s shrimp exports in Q3 2024 increase 2% YoY. First time since Q2 2022. With a total export volume of 52,476 MT, shrimp exports from Indonesia in Q3 2024 increased by 2% year over year. This is the first quarterly year-over-year increase since Q2 2022. It’s also an increase of 17% compared to Q2 2024, which is exceptionally high compared to previous years. The year-over-year export increase was mainly achieved in August, when exports increased 11% year-over-year. Exports were flat and 3% behind year-on-year in July and August. The Year-Total now stands at 145,808 MT, 6% behind 2023. In Q3, the slight year-over-year increase was realized through a 7% increase in raw L. vannamei shrimp exports. Exports of value-added and raw marine shrimp dropped by 1% each, and exports of raw P. monodon increased by 1%. Looking at the Year-Total, raw L. vannamei exports are 10% behind, exports of value-added shrimp are just 3% behind, exports of marine shrimp are flat, and exports of raw ...

Source: Fish Focus