India Vannamei shrimp exports rise 20% YOY in Nov on Asian demand

India's Vannamei shrimp exports rose 20% year over year and 2% month over month to 49,463 mt in November, data from the Ministry of Commerce showed, largely supported by demand from China and Vietnam.

Platts, part of S&P Global Commodity Insights, assessed peeled, deveined, tail-on (PDTO) shrimp FCA India, 31-40 count/lb, at $7,540/mt Jan. 21. The marker averaged $7,387/mt in November, a decrease of about 1% from October.

Despite a decline of 8% month over month, the US remained India's biggest export market at 20,042 mt. Exports were up 6% year over year in November, largely driven by retail buyers with low inventory levels ahead of the Christmas holiday season.

Vannamei exports to China, India's second-largest market, surged 96% year over year and 23% month over month to 11,144 mt. India's exports to China have seen a 60% increase month over month since October.

Demand from China was mostly for smaller shrimp, particularly grades of 50 count/kg and below, according to market participants.

Exports to Vietnam increased 63% year over year and 68% month over month to 5,375 mt in November, making the country India's third-largest export market.

Total Vannamei exports from India increased slightly by 1% year over year to 514,908 mt over January-November.