India Vannamei shrimp exports drop 17% in September

India's Vannamei shrimp exports dropped 17% on the year and 12% on the month to 41,665 mt in September, data from the Ministry of Commerce showed.

Platts, part of S&P Global Commodity Insights, assessed peeled, deveined, tail-on shrimp (PDTO) FCA India, 31-40 count/lb, at $7,414/mt Nov. 19.

Vannamei exports to China saw the biggest drop in September, falling 52% on the year and 29% on the month.

Outflows to the US, India's largest market, declined 3% on the year and 12% on the month to 19,964 mt.

Over January-September, total Vannamei exports fell by about 1% on the year to 416,859 mt.

Despite the fall in exports, farmgate prices remained mostly steady.

Though there was downward pressure on Vannamei shrimp farmgate prices since the US Department of Commerce's final determination hearing Oct. 22, the prices firmed up in the second half of November, signaling supply constraints and an increase in domestic demand.

The commerce department raised the countervailing duty on Indian shrimp exporters to 5.77% in October.