INDIA DATA: Frozen vannamei shrimp exports fall 11% YOY in May

India's frozen vannamei shrimp exports fell 11% year over year to 58,793 metric tons in May, the latest data from the Ministry of Commerce showed.

The data reflects frozen vannamei shrimp exported under HS code 03061720.

Despite the year-over-year decline, vannamei shrimp exports rose 26% month over month in May, supported by exports to the US, India's biggest market.

Exports to the US rose 28% month over month and fell 15% year over year to 22,638 mt in May, the data showed. Shipments increased in May ahead of the US barbecue and summer season.

Platts, part of S&P Global Energy, assessed head-on, shell-on, 40 count/kg, shrimp farmgate India at $3,623/mt on July 23. The marker averaged $3,598/mt in May, down $209/mt month over month.

A Visakhapatnam-based exporter said there were more shipments to the US in the May-July period, as the temporary 10% tariff under USTR Section 122 was set to expire July 24.

China absorbed 13,257 mt of frozen vannamei shrimp in May, down 22% year over year but 15% higher month over month, according to the data.

In terms of the value, frozen vannamei shrimp exports reached $373 million in May, up 26% month over month and down 15% year over year. During the January-May period, export value declined 8% year over year to $1.48 billion.

During this period, vannamei shrimp exports to the US were valued at $588 million, down 24% year over year, while exports to China increased 13% year over year to $281 million, the data showed.