India Oct Vannamei shrimp exports up 5% on year boosted by Chinese demand

India's Vannamei shrimp exports rose 5% year on year and 17% month on month to 48,586 mt in October, data from the Ministry of Commerce showed, largely supported by demand from China and the US.

Platts, part of S&P Global Commodity Insights, assessed peeled, deveined, tail-on shrimp (PDTO) FCA India, 31-40 count/lb, at $7,549/mt Dec. 18.

Vannamei exports to China, India's second biggest market, saw the biggest jump in October to 9,090 mt, about 60% increase month on month and 13% year on year.

The increase in demand from China and tight supplies supported the farmgate prices in India, especially for smaller-size shrimp. According to market participants, shrimp grades of 50 count/kg and down saw higher demand and the prices remained firm during most of the October-November period.

Outflows to the US, India's largest market, also increased by 8% year on year and 9% month on month to 21,817 mt.

The lower inventory levels in the US ahead of the holiday season led to an increase in demand. One exporter said that the buyers in the US are cautious about maintaining a higher inventory level and the trend could continue into next year leading to a sustained demand, albeit from a lower baseline, for Indian shrimp.

Despite the increase in exports in October, total Vannamei exports fell by about 1% year on year to 465,445 mt over January-October.