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India set for record farmed prawn production in 2021

October 12, 2021

1 mins read

At approximately 156,600 live prawns, Indian broodstock (mature adult prawns used for breeding and spawning) imports for the first-half of 2021 (H1 2021) increased by over 19,000 prawns (+14.1%) y-o-y, while also exceeding the comparable pre-pandemic period of 2019. This points towards a potentially record high harvest in 2021, above the 760,000 tonnes produced in 2019, which may surprise some observers, given the impact of the COVID-19 pandemic in India during 2021

Almost 90% of Indian prawn broodstock is imported from overseas, which contributed towards delayed harvests in H1 2021, as logistical bottlenecks and escalating infections curtailed international flights. However, some reports suggest that Indian prawn production accelerated through Q2 2021 on the back of attractive farm-gate prices in Q1 2021, which may have prompted farmers to stock aggressively, thus fuelling robust supply and downward price pressure

The Indian government has pledged financial assistance to seafood producers though H2 2021, in addition to strategic buying using support price mechanisms. This potentiates a tighter Indian prawn market, which may help support a sustained price rally through Q4 2021

Slide1-Oct-12-2021-02-46-08-66-PM

 

Topics: Fish & Seafood
Ibi Idoniboye
Ibi Idoniboye

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