Down 13.6 Percent, Indonesia's Shrimp Exports Are Only 0.76 Billion Until The First Semester Of 2024

Illustration (Photo: Doc Antara)

JAKARTA - The Ministry of Maritime Affairs and Fisheries (KKP) noted that the export performance of shrimp commodities reached 0.76 billion US dollars in the first semester of 2024.

Director General of Strengthening the Competitiveness of Marine Products and Fisheries of the KKP Budi Sulistiyo said this export performance had decreased by 13.6 percent year on year (yoy).

"January-June 2024, the value of Indonesia's shrimp exports in the global market decreased by 13.6 percent compared to the same period in 2023," Budi said, quoted on Tuesday, September 3.

Budi said that the decline in export performance almost occurred in all major markets for shrimp commodities.

His party detailed that exports to the United States (US), which is the main market for Indonesian shrimp, fell by 15.8 percent yoy to 477 million US dollars.

The decline in exports to the US occurred due to allegations of anti dumping and subsidies that made it difficult for local shrimp products to enter there.

In addition, the weakening condition of the US economy also contributed to lowering shrimp orders to almost all exporting countries.

"US imports of shrimp from around the world in the January-June 2024 period amounted to USD 2.7 billion, down 10 percent compared to the same period in 2023," he said.

Not only that, domestic shrimp exports also decreased to Japan by 8.3 percent yoy with an export value of 137.94 million US dollars in the January-June 2024 period.

Then, shrimp exports to China fell 5.6 percent with an export value of 42.33 million US dollars and ASEAN decreased 29.3 percent with an export value of 20.16 million US dollars in the same period.

"The increase in exports only occurred in the European Union with a value of 21.82 million, an increase of 2.1 percent with a market share of 2.9 percent in the January-June 2024 period," he said.

Meanwhile, Indonesia's shrimp exports are still dominated in frozen form by 63.7 percent and the rest are preserved by 31.9 percent and fresh and cold by 4.4 percent.