Shrimp crimp for sellers, consumers

The 50 per cent tariffs on goods imported from India into the US, which kicks in on Wednesday, has equally impacted the shrimp market on both sides.

- SANJEEB MUKHERJEE

The farm-gate price of shrimps in India has dropped by almost 30 per cent since the executive order on tariffs came in early August.

Trade sources said in the US, the price of premium big-sized shrimps has jumped by almost 50 per cent in the last week to 10 days, in anticipation of higher cost from India. India is a major player in the US shrimp market.

"So, broadly, it is players at both ends of the shrimp spectrum, that is farmers in India and consumers in the US, who are currently bearing the brunt of this high tariff imposed by the US government," Nitin Awasthi of InCred Equities told Business Standard.

Presently, the US big-sized premium shrimps are being sold at around $15-$16 per kg, traders said, which just a fortnight back was quoting at around $10-$11 per kg.