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The drop in shrimp prices has made it impossible for farms to survive, and India's shrimp production faces a 20% reduction

Published Oct 12, 2023

Tridge summary

Indian shrimp production is set to decrease by up to 20% due to falling prices, rendering white shrimp farms economically unviable. Many shrimp farms in India have closed down in the past year as a result of excessive inventories in the global market. Although the decline in production may lead to higher prices, some experts believe it is necessary in order to stabilize the market.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Indian shrimp production is expected to fall by up to 20% as falling prices make white shrimp farms in India no longer economically viable. ​ Many Indian shrimp farms have ceased operations over the past 12 months as huge inventories built up in the world's largest market. ​ Industry sources predict that India's farmed shrimp production could fall by as much as 20% for the rest of the year. ​ Thomas Jose, director of Choice Group, said: "Prices for shrimp have remained depressed over the past 12 months, leading many Indian producers to abandon or switch to other species such as freshwater shrimp and fish. ​ Choice Group is one of India's largest and most diversified business groups. Its seafood arm Choice Canning was the first company in India to set up an integrated automated factory for ready-to-eat shrimp in retail bags and is a major supplier of farmed shrimp to the US market. ​ Except for the east coast state of Andhra Pradesh (which accounts for about 70% of ...
Source: Foodmate
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