According to the latest studies by CRISIL, even as its Asian rivals battle structural issues and rising domestic consumption, shrimp exports from India are expected to nearly double to $7 billion by 2022. The reasons indicated are strong demand, high quality, improved product mix and an increase in aquaculture activities in Andhra Pradesh, Gujarat, Odisha, and West Bengal.
In fiscal 2016, India became the biggest exporter of shrimps, overtaking Vietnam by $100 million. A year later, the country has decisively pulled ahead, registering exports of $3.8 billion, whileVietnam stagnated at ~$3 billion. Since 2010, shrimp production in South East Asia has been severely affected by diseases, floods, labour issues and tightening environmental norms. Production in Vietnam has declined ~40% from peak levels because of shortage of fresh water, salinity intrusion and crack down on illegal shrimp farming.
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