Cheaper vannamei shrimps from other countries are giving a tough fight to the Indian seafood exports, which has been losing revenue due to the appreciating rupee. Seafood exporters association expressed concern on the loss of markets and need to introduce the species to India.
Vannamei shrimps are reared mainly in China, Thailand, Indonesia and Vietnam and have more demand compared to the Indian Black Tiger variety. Traditional markets like the US are seen switching to the cheaper vannamei in the mid-size category causing great distress to Indian exporters, Seafood Exporters Association (SEAI) sources said. Shrimp has been a major source of revenue to India and used to fetch high unit value in the export basket. Competition has seen the unit realisation of mid-size shrimp exports decline by 15-20% in the past few years. While the cost of production is on the increase in India, export realisation is taking a beating with appreciating Indian rupee and cheaper competition, exporters complain.