CRISIL expects Indian shrimp export's doubling by 2022

Indian shrimp export, says rating agency CRISIL, could nearly double to $7 billion (Rs 45,000 crore) by 2022, driven by strong demand, high quality and improved product mix. And, an increase in aquaculture area in Andhra, Gujarat, Odisha and West Bengal, while Asian rivals battle structural issues and rising domestic consumption.CRISIL notes India became the biggest exporter of shrimp in FY16, ahead of Vietnam by $100 million. A year on, the country has decisively pulled ahead, at $3.8 bn of export against Vietnam's $3 bn last year.Since 2010, shrimp production in Asia has been hit by disease, flooding, labour issues, and tightening environmental norms. Output in Vietnam has declined by 40 per cent from peak levels because of shortage of fresh water, salinity intrusion and illegal shrimp farming. Thailand, once the top exporter, is now ranked fifth, after a 65 per cent plunge from peak levels. In 2016, China's shrimp production dived by 60 per cent even as its consumption more than ...