Global shrimp productivity will continue to rise in 2022

Global shrimp productivity is expected to increase in 2021 and will continue in 2022, according to a recent report from Rabobank.

Global shrimp productivity is expected to continuously increase in 2022. Photo: TL.

According to VASEP, Rabobank recently reported that the Global Fisheries Alliance had just conducted a survey on world shrimp production.

Accordingly, global shrimp output in 2021 is expected to increase by 8.9% compared to 2020. In 2022, the figure will continuously increase with an expected growth rate of 5%.

Rabobank analysts said this year’s forecast of shrimp production growth is quite impressive amidst the global Covid-19 pandemic.

Nearly all over the world are facing the Covid-19 pandemic along with labor shortages at processing plants, and unprecedented logistics problems.

Besides, the world also faces issues related to weather such as floods in India, high feed prices, scarcity of shrimp breeds and broodstock.

The forecasted growth of global shrimp output this year is mainly based on the strong growth of Ecuador which could replace India to become the world's largest shrimp exporter in both volume and value with around 1.2 million tonnes in 2021.

Brazil has the most impressive growth of productivity (23.8%) in 2021. Thailand also recorded 12.8%.

Meanwhile, India is forecasted to unlikely recover output after the pandemic until 2023.

The market price of shrimp products is expected to decrease in 2022 due to increased production and restrictions to prevent the Covid-19 pandemic.