Bug Crowd Reports

Main Menu

  • Export
  • Force Majeure
  • Limited Flexibility Exchange Rate System
  • Price Discovery
  • Fund

Bug Crowd Reports

Header Banner

Bug Crowd Reports

  • Export
  • Force Majeure
  • Limited Flexibility Exchange Rate System
  • Price Discovery
  • Fund
Export
Home›Export›Shrimp export revenues to climb 20% in CY21: Crisil

Shrimp export revenues to climb 20% in CY21: Crisil

By Merry Smith
June 1, 2021
0
0



The report adds that if the supply chain disruption in major shrimp-producing states continues into the second quarter of this fiscal year, it could dampen growth.

Revenues from the export of shrimp are forecast to increase by 20% year-on-year (year-on-year) to approximately $ 4.3 billion in calendar year 2021 (CY21), due to a recovery in demand and restoration of supply chains that were disrupted last year by the Covid-19 pandemic, according to a report by rating agency Crisil.

According to the study of 97 Crisil-rated exporters, accounting for more than two-thirds of industry revenue, lockdowns and supply chain disruptions caused exports to drop to $ 3.6 billion in 2020, from $ 4.7 billion in 2019.
Ecuador overtook India with $ 3.7 billion in exports, as it had fewer logistical pitfalls and focused on satisfying China’s voracious appetite for raw shrimp.

“India’s shrimp exports fell 23% in 2020 for two reasons: moderate demand in major export markets due to lockdowns and disruptions in the supply of broodstock from the United States. States, which had an impact on the national shrimp harvest cycle. The good part is that the second wave of the pandemic did not lead to strict restrictions on the movement of commodities and stocks, so it won’t be as disruptive as the first wave. Therefore, we expect exporters to run their operations well and grow an average of 20% this fiscal year, ”said Rahul Guha, Director of CRISIL Ratings.

India has established itself as an exporter of shrimp over the past decade, due to the emphasis on quality and disease control, and by moving to more resilient and free from broodstock. specific pathogens, or SPFs, from the United States.

Krishna Ambadasu, Associate Director of CRISIL Ratings, said: “The expected and gradual increase in the share of value-added exports this fiscal year also bodes well for exporters. Improved profitability and a controlled working capital cycle will limit overall debt to less than 0.4 times and interest coverage to more than 8 times. This should strengthen credit profiles. “
Crisil reports that the retaliatory tariff proposed by the United States on certain shrimp products will likely have minimal impact – estimated at only $ 6.3 million – on the growth of the industry.

The report adds that if the supply chain disruption in major shrimp-producing states continues into the second quarter of this fiscal year, it could dampen growth.

Get live stock quotes for BSE, NSE, US market and latest NAV, mutual fund portfolio, see latest IPO news, top performing IPOs , calculate your tax with the income tax calculator, know the best market winners, the best losers and the best equity funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.





Related posts:

  1. Suzuki exported 2 million vehicles from India
  2. Exim Financial institution sees its exports develop by 4.9 laptop in This fall
  3. Florida citrus rely and beef-pork exports down barely
  4. India can export digital sports activities; readability of laws will additional stimulate business: MPL
Tagscovid pandemicfiscal yearsupply chainunited states

Categories

  • Export
  • Force Majeure
  • Fund
  • Limited Flexibility Exchange Rate System
  • Price Discovery

Recent Posts

  • Indonesia’s new partial ban on coal exports will impact EU and bulk carriers
  • Astonishing Growth of the Learning Management Systems Market at CAGR
  • Equity futures are slightly higher ahead of Friday’s session
  • International Energy Agency slashes Nigeria’s sustainable oil production capacity
  • How to export Linkedin contacts with emails? – G-Style Magazine
  • Privacy Policy
  • Terms and Conditions