Gorjan Nikolik, chief seafood analyst at Rabobank, predicts that global black tiger shrimp production will reach 600,000 tons in 2024, a year-on-year increase of 7%.
Nikolik said that the production of black tiger shrimp has increased by more than 100,000 tons in the past two years, and Asian countries are trying to find new ways to make profits by switching to black tiger shrimp farming.
China and Vietnam are the world's largest black tiger shrimp farmers, with each producing 150,000 tons. Nikolik predicts that China's total production of vannamei and black tiger shrimp will exceed 1 million tons this year, and the production of both black tiger shrimp and vannamei is growing. In Vietnam, black tiger shrimp production has stabilized, while South American white shrimp production is declining. This year's total production is around 630,000 tons, a decrease of 15%.
India's black tiger shrimp production has the fastest growth rate. During the downturn in South American white shrimp prices, a large number of farmers switched to black tiger shrimp. This year's production will reach 70,000 tons. Some Indian exporters, such as Abad Overseas, see black tiger shrimp as the mainstay of their export business in 2023.
Nikolik said that Bangladesh is also an important producer of black tiger shrimp, with a production growth rate of about 10% in 2023, reaching 140,000 tons, and an expected growth rate of 14% in 2024, reaching 160,000 tons.
Shyamal Das, general manager of Bangladeshi company M.U. Seafoods, said that the country's vannamei shrimp farming industry has just been approved and production will increase to 30,000 tons in the next three years. Black tiger shrimp is still the main cultured species in Bangladesh. About 70,000 tons of black tiger shrimp are consumed in the local market. As the production of South American white shrimp increases and enters the local market, more and more black tiger shrimp will be sold overseas as export commodities. .