In 2024, the global shrimp export market faced significant challenges, particularly for exporters in Bangladesh, where political upheaval led to the overthrow of Prime Minister Sheikh Hasina. Robins McIntosh, who attended her last speech before fleeing, noted that this instability has had a ripple effect on the shrimp industry [8b952241].
Grupo Lamar in Venezuela, which produces 60,000 tonnes of shrimp annually, was also accused of political involvement, further complicating the landscape for shrimp exporters. The global demand for shrimp has seen a slump, with European shrimp imports rising by 10%, while imports from China decreased by 12-14% and the United States by 3-4% [8b952241].
Amidst these challenges, skepticism surrounds the Global Shrimp Council's marketing plans, with many industry players questioning their effectiveness in boosting shrimp exports. Bangladesh's ambitious aquaculture export goal of $5 billion has been deemed unrealistic by experts, especially given the rising domestic shrimp consumption in Thailand, Vietnam, and Indonesia [8b952241].
Concerns over bacterial diseases affecting shrimp farms have also been highlighted, with climate change exacerbating these issues. McIntosh emphasized the need for better management and nutrition practices to combat these challenges effectively [8b952241].
Despite these hurdles, there remains optimism for Ecuador's shrimp industry, which is expected to thrive in the current market environment. Additionally, India and Indonesia are anticipated to continue being significant players in the global shrimp market, navigating their own sets of challenges while capitalizing on opportunities for growth [8b952241].