India has lost its top spot as the world's largest shrimp exporter by volume to Ecuador, latest trade figures show.
According to figures from India's Ministry of Commerce and Industry compiled by Undercurrent News, India exported 413,000 metric tons of frozen shrimp in the first nine months of 2020, down 13% compared with the same period last year.
The fall sees Ecuador surpass India as the world's largest exporter with the Latin American country growing its exports over the same period by 6% to 499,000t.
However, India remains the biggest exporter by value, with exports over the January-October period worth $3.50 billion, down 11% compared with the same nine months of last year (see chart below). By comparison, Ecuador's exports for the same period came to $3.02bn, level with last year.
India has been one of the fastest-growing shrimp exporting countries in the world.
Its share of global farmed shrimp production soared when farms in China and Southeast Asia were devastated by early mortality syndrome between 2010-2013 and Indian farmers switched from cultivating black tiger shrimp to vannamei, a faster-growing shrimp species.
However, the pandemic has disrupted India's markets and logistics while Ecuadorian production continues to grow.
In October, India exported $459m worth of shrimp, 8% less than October of last year, according to provisional data. By comparison, Ecuador's October exports were the second-highest on record, according to Ecuador's aquaculture chamber -- known by its Spanish abbreviation, CNA. This lifted exports over the January-October period to 563,000t, an increase of 7% year-on-year.
The decline in India's shrimp exports over the first nine months was led by a drop in exports to the US, China and the EU, India’s largest markets (see chart below).
In the January-September period, exports to the US fell 11% to 182,000t, while exports to the EU fell 8% to 46,000t.
Meanwhile, exports to China, India’s second-largest market, fell by 29% to 76,000t.
Of India’s major markets, exports rose only to Japan -- India’s fourth-largest market, up 8% to 31,000t, and Vietnam -- its fifth-largest market, up 5% to 28,000t, over the Jan-Sep period.
Ecuador has managed to expand its shrimp industry even despite severe disruption to exports to China, its biggest market.
Although prices have fallen to near-record lows for Ecuadorian shrimp, in October monthly exports bounced back to the second-highest volume on record, as the EU and US took a greater share thanks to the attraction of low prices.
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December 23, 2020 at 05:10PM
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Trade insights: India loses crown as world's largest shrimp exporter to Ecuador - Undercurrent News
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