"In June, exports to the US increased to 28 million pounds [14,000 metric tons], but it was in July when we reached our highest ever export to this country with 35m pounds, doubling what we usually do in mid-summer.". Quantity of exports was 600 thousand tonnes with a 3 per cent decline from the previous year, while average fish and seafood export prices increased 4 per cent during the same period. India is the largest producer of farmed shrimps in the world and accounts for nearly 6% of the global fish production. Our goal is to have 100% customer satisfaction & to provide fish & seafood from sea to table in record time! 1, shell-on, headless, 26 to 30 count per pound, wholesale price at New York. The shrimp market changed a lot in recent months due to a decline in exports to the US from India, which allowed Ecuador to step up and cover the US' needs, Luna said. Description: Shrimp , (Mexico), west coast, frozen, white, No. 81 Aviva Park Drive, Woodbridge, Ontario, L4L 9C1, Canada. Indian seafood exports to the US has been hampered in the recent past due to higher anti-dumping duty and impact of the implementation of Seafood Import Monitoring Programme (SIMP) . As the data below shows, China has been the largest importer of Ecuadorian shrimp since 2014. However, the sector had to target its export markets differently not only due to these restrictions and the fear of exporting to the Asian giant derived from the situation. 2020The Indian Express [P] Ltd. All Rights Reserved. Description: Shrimp , (Mexico), west coast, frozen, white, No. “I think the real impact of the lockdown will be felt in the May and June shipment because of the labour and other constraints. Source: US Department of Commerce, NOAA, Fishery Market News; World Bank. According to the latest data of US agency National Oceanic and Atmospheric Administration, India exported 22,229 tonne of shrimp during April 2020 as against 17,749 tonne in April 2019. "During the first months of the year, we shifted our exports to the US and Europe, pushing a little more product to those markets to try and set off the lack of demand from China due to the pandemic outbreak there," he said. 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However, the sharpest falls took place in July and August, where exports dropped by 76% and 63% y-o-y to 19m and 29m pounds. "What happened in August represents an ideal export situation for any producing country, and it is what has driven farmgate prices for raw shrimp in Ecuador up since.". 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Although Ecuadorian shrimp exports grew 6% year-on-year to 981m pounds between January and August, the reality is that the Latin American country was on its way to increasing its exports by 25% this year, as it did in 2019, according to Luna. Labour and vehicle movement were also constrained in most of the coastal states. "Geographically, we are very close to the US, so our products take only around three weeks to reach the country," Luna said. Top destinations were the United States ($4.27 B), China ($1.17 B) and the European Union ($0.45 B), accounting for 85 per cent of Canada’s fish and seafood total export value. The Ecuadorian shrimp sector experienced an 'ideal situation' in August when production was exported more or less evenly to the country's three main import markets, consultant Gabriel Luna of GLuna Shrimp, said. Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. The achievement in April is really good given the overall constraints,” he said. "Year-to-date, exports to China are down 11%, and, as soon as we stopped exporting to China at the same levels we were used to, shrimp prices bounced up in Ecuador," he explained. If China wants it, it will have to pay a better price for it.". 10-09-2019 Shrimp imports contracted in the United States of America and the EU28 during the first quarter of 2019. "Year-to-date, exports to China are down 11%, and, as soon as we stopped exporting to China at the same levels we were used to, shrimp prices bounced up in Ecuador," he explained. Click here to join our channel and stay updated with the latest Biz news and updates. He added the consumption of seafood in the retail sector in the US and EU has been higher for April and May with people stocking more in anticipation of a shortage. Expert explains, Share Market LIVE: Sensex trims losses, turns green, Nifty nears 12,700; Financials continue to drag, Stocks in focus: RIL, ONGC, Tata Steel, TCS, Indiabulls Real Estate, Grasim Industries, Lakshmi Vilas Bank, Annual premiums for Rs 5L health insurance plans starting at Rs 4,730 - Check Out, US Stocks: DoorDash, Wish and Affirm join Airbnb to fuel year-end IPO boom, With 44,879 new cases, India's COVID-19 tally rises to 87.28 lakh, Indian Railways' NRTI launches seven academic courses; Here are unique features of these programmes, MEIS up 73% for April-December, but still just 40% of total for FY20, Copyright © At Seafood Online, we're a team of seafood lovers that want to offer the best quality & freshest delicacies possible from our sea. Like us on Facebook and follow us on Twitter. Recently, Undercurrent News previously reported a fall in farmgate prices of between $0.20/kg and $0.80/kg for HOSO shrimp on Sep. 28, mainly due to a seasonal demand contraction that follows the end of summer. Diwali bumper gift for ‘Make in India’: Modi govt's Rs 2 lakh cr production incentives for 10 areas, Gautam Gambhir inaugurates first-of-its-kind giant air purifier in Delhi's Gandhi Nagar market, Nirmala Sitharaman Highlights: Diwali gift for jobseekers, urban poor; employment scheme, housing support and more, Dhanteras 2020 wishes: Check Date, Timing, WhatsApp, Facebook status, messages, quotes, greetings, Bihar Election Results 2020 Highlights: People's faith in democracy defeated fear of pandemic, says PM Modi, Covid-19: Indian Railways equips AC coaches with enhanced safety features; details here, Failed UPI transaction? You're missing out. "And of course we still have product, but we are shipping it to Europe and the US too now. "Not a big drop compared to what it actually happened," he said. Indian shrimp exports to the US during April this year is seen higher by 25 % or 4,480 tonne when compared with the figures of April last year. US Department of Commerce, NOAA, Fishery Market News; World Bank. The average export price of Indian shrimp was 13 percent lower at USD 7.58 per kg in 2018 (USD 8.65 per kg in 2017). 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Also, forecasts for 2020 — if the pandemic had not taken place — were that exports would have been stable from May to September and would have dropped between 5% to 10% from then on due to the start of the cold season in Ecuador, Luna explained. Join the global community relying on Undercurrent News for quality reporting. a Seacore Seafood … We use MailChimp as our email campaign platform. By subscribing, you agree that the information you provide will be transferred to MailChimp for processing in accordance with their "Ecuador has three main import markets for Ecuadorian shrimp [China, the EU and the US], so the most optimal situation would be to be able to divide the production and export it equally to those three markets," he explained. The Ecuadorian shrimp sector experienced an 'ideal situation' in August when production was exported more or less evenly to the country's three main import markets, consultant Gabriel Luna of GLuna Shrimp, said [...]. privacy policy and terms. However, if everything continues as it is right now, Ecuador will end 2020 with between 0% and 3% increase in shrimp exports only, he said. “Indian exports, especially to the US, are likely to increase in the coming months with the Indian processors being proactive in the retail market in the recent past.”. Additionally, Ecuador exported some 36m pounds of shrimp to Europe in August, which is the country's higher ever export volume of shrimp to Europe so far, according to Luna.