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Willem van der Pijl, Co-Founder of the Global Shrimp Forum and publisher of the Shrimp Insights blog, has released a comprehensive 196-page guide to the Indian shrimp industry. This guide, a product of van der Pijl’s extensive immersion and research over the past decade, aims to provide an in-depth analysis of each segment of the shrimp supply chain within the world’s largest shrimp-producing country.
“The guide is a one-stop resource for anyone looking to gain a better understanding of the structure and dynamics of the Indian shrimp industry and the companies that drive it,
The report details the history and current landscape of shrimp farming in India, noting that while traditional extensive farming in "trap-and-hold" ponds has existed for years in states like West Bengal and Kerala, commercial shrimp farming began to develop in the late 1980s. Today, the report estimates there are around 100,000 shrimp farms in operation across India.
The guide highlights that Indian shrimp farmers have innovated and invested in their supply chains to maintain a competitive edge, leading to improvements in farming operations, processing capacity, and marketing strategies. However, the report notes a recent stagnation in the sector's growth, with shrimp exports peaking in 2021 at 704,160 metric tons (MT) before declining in 2022 and 2023 due to global oversupply and falling prices.
“At the end of 2023, average export prices were just above 2020 levels, adjusted for inflation. This price decline illustrates the industry’s challenges,” the report states.
The guide also profiles India's 19 largest shrimp producers by revenue, ranking Avanti Feeds as the largest with an annual production of 775,000 MT of feed and 28,000 MT of shrimp, and a reported revenue of EUR 615 million (USD) for the 2022-23 financial year. Devi Sea Foods follows, with EUR 391 million (USD) in sales revenue and a production of 52,000 MT of shrimp and 300,000 MT of feed.
Despite the recent slowdown in export growth, the U.S. remains India's largest export market, accounting for 40 to 50 percent of total exports. However, India is losing market share to Ecuador in certain segments.
To counter rising production costs and other challenges, many Indian shrimp farmers are shifting from vannamei to black tiger shrimp (monodon), with production exceeding 50,000 MT in 2023 and expected to grow further.
Alongside stagnating production, the Indian shrimp feed market appears to be contracting, with feed demand estimated to drop from around 1.3 million to 1.35 million MT in FY 2022-23 to approximately 1.1 million to 1.15 million MT in FY 2023-24.
Processors are also innovating, investing in value-added product processing, and diversifying their portfolios to include fish processing. Many fully dedicated shrimp processors are vertically integrated, owning hatcheries, feed mills, and shrimp farms to control the value chain and optimize margins.
The majority of shrimp processors are based in Andhra Pradesh, home to an estimated 95 processing plants owned by 65 companies.
The report, funded by sponsors such as Apex Frozen Foods, Aquaconnect, Aquaculture Stewardship Council, AquaExchange, Devi Sea Foods, and others, does not address potential human rights violations in the Indian shrimp-processing sector, which were reported after the guide’s research period.
“This report serves as a way for industry insiders within the Indian ecosystem to showcase their involvement in the shrimp industry,” van der Pijl said. “I hope the document will serve as a reference work for years to come.”
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