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Shrimp Exports To Grow By 20 % This Year; India Likely To Regain Top Spot: Report
India rose to prominence as a shrimp exporter in the past decade, owing to a sharp focus on quality and disease control and by shifting to the more resilient, specific pathogen-free brood-stock from the US.
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Shrimp exports are expected to grow by 20 per cent to about USD 4.3 billion in 2021, driven by a revival in demand and restoration of supply chains that were disrupted last year by the COVID-19 pandemic, according to a report.
It should help India wrest global leadership in shrimp exports after slipping to the second spot in 2020, rating agency Crisil said in the report.
In calendar 2020, lockdowns and supply-chain disruptions meant exports declined to $3.6 billion from $4.7 billion in 2019. Ecuador edged past India with $3.7 billion exports because it had fewer logistical snafus and focused on catering to the voracious appetite in China for raw shrimps.
According to the study of 97 Crisil-rated exporters, accounting for over two-thirds of the industry’s revenue, lockdowns and supply-chain disruptions meant exports declined to $3.6 billion in 2020 from $4.7 billion in 2019.
Shrimp exports are expected to grow by 20 per cent to about USD 4.3 billion in 2021, driven by a revival in demand and restoration of supply chains that were disrupted last year by the COVID-19 pandemic, according to a report. It should help India wrest global leadership in shrimp exports after slipping to the second spot in 2020, rating agency Crisil said in the report. India s shrimp exports contracted 23 per cent in calendar 2020 due to subdued demand in key export markets because of lockdowns and disruptions in brood-stock supplies from the US, which impacted the domestic shrimp harvest cycle, Crisil Ratings Director Rahul Guha said.