Apex Frozen Foods is setting up a 20,000 tons per annum shrimp processing unit at East Godavari District in Andhra Pradesh with an investment of Rs. 900 million. It may be noted
Vannamei, an exotic shrimp variety is boosting the aquaculture exports of India over the last few years. Pacific White Leg Shrimp (Vannamei) and Indian Black Tiger Shrimp (Penaeus monodon) are popular in USA, Europe and Japan markets despite the prevailing anti-dumping duty on frozen shrimp. The exotic vannamei variety is farmed mainly in states like Andhra Pradesh, Gujarat, Tamil Nadu and Odisha while Black Tiger Shrimp is mainly cultivated traditional ponds of West Bengal, Odisha and Kerala. India has produced 4.09 lakh tonnes of vannamei shrimp during 2015-16. The broodstock of vannamei variety is imported from abroad right now.
Indian Seafood industry is expecting a better growth rate of 15% this fiscal arising from the shortage in the global marine products market because South East Asian countries are yet to recover from the disease attack in the farms. India suffered a setback in 2015-16 when the seafood exports fell 10-15% % due to a production dip and sluggish prices. But now prices have improved encouraging the producers to increase supply.
Even a major supplier like Ecuador, which was hit by an earthquake, may not achieve regular volume growth.
In 2015-16, aquaculture production in the country dropped below 4 lakh tonnes as the prices fell. Scattered occurrence of diseases also hit the supply.
US government has raised the anti-dumping duty on import of frozen shrimps from India. The preliminary average duty has been increased to 4.89 per cent in 10th annual review of dumping duties, compared to 2.96 per cent in ninth review which covered February 1, 2013 , through January 31, 2014 . With India, being the largest exporter to US, where US contributes to 29% of total exports, they are expected to move other market which may not provide better realizations. Exports are expected to fall over the coming months and exporters may request a delegation from Ministry of Commerce to sort out the issues.