India Feeds Rebounding US Shrimp Consumption

Shrimp imported by the United States (US) soared to 662,212 tonnes in 2017, 95,000 tonnes above the average since 2008. This marks the second consecutive year of record-breaking imports as the industry emerges from a decade of stagnation. Starting off the year strong, January 2018 shrimp imports hit 61,439 tonnes, 10,000 tonnes greater than any previous import volume recorded in January. US annual per capita shrimp consumption doubled to a record 4.4 pounds between 1990 and 2006 but slid to 3.6 pounds in 2013. The figure for per capita consumption in 2017 has yet to be calculated, but analysts expect it to at least match the record 2006 consumption.

India is the main beneficiary of this growing demand. The percentage of shrimp US imports from India swelled from 5.4 percent in 2010 to 32.4 percent in 2017. Now, the US Department of Commerce (USDOC) is reviewing this flood of Indian shrimp and is considering an increase in the anti-dumping duty. The current anti-dumping duty for Indian seafood exporters is 0.84 percent, but the USDOC recommended a two percent hike in its March 12 preliminary report. The final decision will be made in mid-July just as US shrimp imports begin to climb. Gro Intelligence subscribers can track US imports over the next few months and determine whether anti-dumping measures are enough to stem the influx of Indian shrimp.