A sharp decline in India’s shrimp exports to China, the second largest buyer of Indian shrimps after the USA, has made shrimps cheaper in domestic markets by 30-40 percent.More than 1000 containers of shrimp have been estimated to be stranded at Chinese ports as the country raised concerns about following covid protocol in the packaging of the shrimp, waiting for clearance.
According to Ramakanth Akula CEO of water based limited China was a very large market for the small sized shrimps weighing 10 grams to 17 grams. Now, as the exports to China are facing problems, the demand for these sizes is soft. The farm gate prices of shrimp have declined by about 14%.Exporters have started seeing the impact of problems in Chinese market on the prices in other countries. “Of late, importers from other countries have started bargaining about price,” said a shrimp exporter, who did not wish to be identified.
Source: Economics Times
