During the first quarter of the current year, Indian shrimp exports to the US were only 2,000 tonnes, less than half the 4,100 tonnes recorded for the corresponding quarter of 2007.
A report in the Seafood Export Journal has pointed out that this significant fall extends well into the last four years as well. Indian shrimp exports to the US fell from 15,200 tonnes in the first quarter of 2004 to 8,000 tonnes in 2005 and then to 7,300 tonnes in 2006, before plunging to 2,000 tonnes in 2008.
According to TheHinduBusinessOnline, w hile the report pointed out that there has been a significant fall in customer confidence in the US, it has not affected the import and consumption of shrimps to a similar extent.
“Traditionally, shrimp is considered an upper-end product and economic crisis in the US has always resulted in lower shrimp consumption. However, some recent reports indicate that shrimp might be less affected by the present crisis than other food products,” the report said.
India Shrimp Exports Sinking Fast
INDIA - There has been a significant fall in the quantum and value of Indian shrimp exports to the US markets ever since the imposition of anti-dumping duty and customs bond on such shipments.