India Shrimps gaining robust growth in global Countries: Bonafide Research

“India’s export of seafood remained on the upward curve despite a fall in global shrimp prices triggered by an oversupply from major shrimp-producing countries and more stringent test regimes imposed by the EU to detect antibiotic residues in frozen shrimp consignments. Still Frozen Shrimp Continued to be the top export item of the marine products basket with a share of 42.05% in quantity and 69.95% of the total earnings in Dollar”
Prawn’s falls under crustacean family which is commercially known as shrimp and commonly known in different parts’ of the country as Chingri, Ghinga, Kolambi, Sungata, Chemen, Shetli etc., is considered by most people a fish. Prawn fishing in marine water is mainly restricted to the west coast. Kerala state and Bombay coast are the chief centres for the production of marine prawn. The important species of prawns found in coastal regions are Penaeus indicus (Indian Prawn), Penaeus monodon (the giant tiger prawn), Penaeus mergniensis (banana prawn), Penaeus semisulcatus (green tiger prawn), Metapenaeus dobsoni (Yellow prawn). Besides this the other important group of prawns is Metapenaeus brevicornis, Metapenaeus affinis, Metapenaeus Monoceros, Penaeus sculptilis, Penaeus stylifera, Penaeus tenuipes, Parapenaeopsis maxillepedo, Palaemon fluminicola etc. Among these, P. indicus occurs most commonly in India and constitutes the bulk of the production.
Considering the high export potential, giant fresh water prawn and scampi have immense potential in India. Since the world market of scampi is also expanding with attractive prices, there is great scope for scampi in the export market as well. On the other hand, introduction of L. Vannamei shrimps into India’s coastal aquaculture system has significantly contributed to maintaining the momentum in the country’s marine product export. India marine products are principally supported by frozen shrimp, which is mainly sourced from the coastal aquaculture farms. India farms mainly two varieties of shrimp-Pacific white leg shrimp and Indian black tiger shrimp. Black tiger shrimp is mostly farmed in the traditional ponds of West Bengal, Odisha and Kerala, whereas the L. vannamei variety is farmed mainly in states of Andhra Pradesh, Gujarat, Tamilnadu and Odisha.?
According to recently published report of Bonafide Research “India Frozen Prawns Market Outlook, 2020, India frozen prawns market is expected to attain CAGR of more than 12% from 2017-18 to 2019-20. In total packed frozen prawns market, export perform major portion followed by domestic market. The rising disposable incomes have increased the purchasing power of the consumers towards frozen seafood. India is now one of the world’s fastest growing markets for packaged processed fish and seafood, a category that includes frozen and canned products. In packed frozen prawns, temperature is controlled throughout the chain to make sure that consumer always get fresh, soft and juicy prawns. Domestic frozen prawns market is driven by players like IFB agro, Forstar, West Coast Fine Foods, Gadre, Al Kabeer and Innovative Foods (Sumeru) who hold majority of the market share with multiple products in the market. All of their products are available in retail as well as HoReCa channels. Packaging of frozen prawns usually comes in 200 gram to 600 gram with price ranging between Rs. 180 to Rs. 450. Modernization of daily life has sought products that are easy to procure yet to do not comprise on quality. Fast paced lifestyle in metro and urban cities has made difficult for consumers to prepare or find good seafood which offers freshness and taste. As a result of which, people are moving towards frozen variants. Growing Domestic Packed Frozen Prawns market has attract many organised players such as ITC Limited has entered in packed frozen prawns market in 2017 with its ITC Masterchef Brand. ITC has been exporting shrimps and prawns for over 45 years, but now, it has taken the business to the next level. They are doing this by freezing these crustaceans and selling them in the domestic market with the ITC Masterchef brand.
In 2017-18, Japan emerged as the major market for Black Tiger shrimp with a share of 49.38 per cent in dollar terms, followed by the US (18.09 per cent) and South East Asia (15.06 per cent). Import by Japan, the fourth largest destination for Indian seafood, increased by 17.51 per cent in quantity and 6.7 per cent in dollar terms. The US, which imported 203,837 tonnes of Indian seafood worth $1.917 billion, remained the major importer with a share of 33.99 per cent in dollar terms. Export of frozen shrimp to the EU region decreased by 6.98 per cent and 3.26 per cent in quantity and dollar value, respectively. Visakhapatnam, Kochi, Kolkata, Pipavav, Krishnapatanam and JNP were the major ports for the marine products cargo. Overall, Indian ports carried seafood cargo to the tune of 13, 77,244 tonnes worth Rs 45,106.89 crore (7,081.55 million dollars).
The decrease in anti-dumping tariff on Indian shrimp and its increased market acceptance led to a significant increase in shrimp supply from India and the average wholesale price of Indian shell-on vannamei was 6-10% higher than the Ecuadorian product. Indian aquaculture production is estimated to touch a record 7 lakh tonne during the current fiscal and reach 1 million tonne by 2020. However, entry of new players and countries in the supply chain has led to a glut in the market with shrimp prices in free fall.
Major companies operating in the frozen prawns market of India are Al Kabeer Exports Private Limited, Apex Frozen Food Limited, Avanti Frozen Food Private Limited, Britto Seafood Exports Private Limited, Forstar Frozen Food Private Limited, Gadre Marine Export Private Limited, IFB Agro Industries Limited, Innovative Foods Limited, ITC Limited and West Coast Fine Foods (India) Private Limited.
Report: India Frozen Prawns Market Outlook, 2020
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2019-20
Pages: 108 Figures: 26 Tables: 18?

Leave a Reply

Your email address will not be published. Required fields are marked *