KKP Calls Indonesia's Shrimp Exports To The US Declining Nearly 16 Percent, Here's Why

Illustration (Photo: Doc Antara)

JAKARTA - The Ministry of Maritime Affairs and Fisheries (KKP) noted that shrimp exports from Indonesia to the United States (US) fell by about 16 percent compared to last year.

The Director General of Strengthening the Competitiveness of Marine and Fishery Products (PDSPKP) KKP Budi Sulistiyo said, throughout January to June 2024, the US became the main and highest export destination country for Indonesian shrimp exports with a value of 477.29 million US dollars.

However, Budi said, on an annual basis or year on year (yoy), the development of shrimp exports to the US decreased by 15.8 percent.

The volume of shrimp exported to the US is 62.17 thousand tons.

Budi assessed that one of the decreases was triggered in terms of consumption in the US which decreased as US citizens were increasingly selective in shopping amid the domino effect of interest rate policies in the country.

"From the export destination data for January-June 2024, the US remains the highest. The export value is 447.29 million US dollars with a share for Indonesia's exports of 63.1 percent. Then, if we look at the development, it has decreased by about 15 percent," Budi said at a press conference at the KKP Building, Jakarta, Monday, September 2.

Regarding the decline in shrimp exports, Budi said, during the period January to June 2024, the export value of Indonesian shrimp in the global market decreased by 13.6 percent when compared to the same period last year.

"The decline in exports occurred in the US market, which is 15.8 percent, which is the main market for Indonesian shrimp or the sharing rate is 63 percent of the total export of Indonesian shrimp," he said.

In detail, Indonesia's shrimp exports in the world are still dominated by frozen shrimp, which is 63.7 percent, 31.9 percent and 4.4 percent cold fresh.

In addition to the US, Indonesia's shrimp exports to Japan, China and Southeast Asia (ASEAN) also decreased, namely 8.3 percent, 24.4 percent and 29.3 percent respectively on an annual basis or year on year (yoy).

Budi explained that the export value of Indonesian shrimp from January to June 2024 decreased by 13.6 percent when compared to the same period in 2023, which was 760 million US dollars or around Rp. 11.8 trillion. In addition, the value trend from 2018 to 2024 fell 0.7 percent.

"Then the export volume for January to June 2024 is 98.51 thousand tons, which is a contraction or adjustment of 10.8 percent," he said.