Madagascar reports drop in shrimp exports in 2024

Madagascar's shrimp exports fell in 2024, which one local official said followed a trend among other shrimp-producing countries.

Minister of Fisheries and the Blue Economy Paubert Mahatante said the value of Madagascar's shrimp exports reached US$22.5 million in 2024 whereas it was US$26.6 million in 2023. The minister clarified that the drop in export volumes cannot be traced to a specific reason and that the figures seemed to align with global shrimp dynamics.

The Food and Agriculture Organisation (FAO) said that global shrimp imports totalled 2.6 million tonnes in the first nine months of 2024. This indicated a decrease of 3.4 per cent from the total reached in 2023.

The United States and China, the two largest markets for shrimp produced worldwide, reported similar or lower consumer demand in 2024 compared to the previous year. As per the FAO, this and low shrimp prices meant that global production of farmed shrimp in 2024 ended up closely matching 2023 levels.

The EU and China remain Madagascar's top shrimp export markets. Smallet markets for shrimp include the US, the UK, India, Mauritius, South Africa, Japan, Malaysia, Thailand, and Vietnam.