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In India, Avanti Feeds owns a joint processing plant, Avanti Frozen Foods, with Thai Union Group and exports to the United States, China and Europe
.
.
Nikhilesh Alluri, CEO of Avanti Frozen Foods, said: "U.
S.
demand is very weak at the moment, and our U.
S.
customers, including large retailers and restaurant companies, are sitting on large inventories
.
So we're going to see how quickly they clear their inventory, and only when they can take orders can we send more products
.
”
S.
demand is very weak at the moment, and our U.
S.
customers, including large retailers and restaurant companies, are sitting on large inventories
.
So we're going to see how quickly they clear their inventory, and only when they can take orders can we send more products
.
”
Currently, Avanti is expanding U.
S.
order sales for cooked shrimp to compensate for the weak raw shrimp market
.
We'll continue to see how the market will develop
in the next two to three months.
It's the holiday season, and it's also the main season for consumption, and we'll have to wait and see, because there is no clear answer
yet.
”
S.
order sales for cooked shrimp to compensate for the weak raw shrimp market
.
We'll continue to see how the market will develop
in the next two to three months.
It's the holiday season, and it's also the main season for consumption, and we'll have to wait and see, because there is no clear answer
yet.
”
Alluri said the Chinese market was also not performing well because of lower demand and weak sales due to pandemic control and
lockdowns.
"We can sense that China still has a lot of inventory, and we just know that China may not start bulk purchases
until December to early January.
" Frankly, the last 6 to 8 months have been very delicate, with a lot of buyers asking us to renegotiate and a lot of people starting to back down
.
”
lockdowns.
"We can sense that China still has a lot of inventory, and we just know that China may not start bulk purchases
until December to early January.
" Frankly, the last 6 to 8 months have been very delicate, with a lot of buyers asking us to renegotiate and a lot of people starting to back down
.
”
In the medium and long term, as long as China relaxes controls, Alluri is still very optimistic about the Chinese market
.
"We know that China is very difficult, and the reasons given by importers are usually China's own lockdown reasons and weak economic conditions
.
So will the Chinese market recover? The answer is yes
.
Once China lifts the blockade, we are pretty sure they will be like
the rest of the world.
”
.
"We know that China is very difficult, and the reasons given by importers are usually China's own lockdown reasons and weak economic conditions
.
So will the Chinese market recover? The answer is yes
.
Once China lifts the blockade, we are pretty sure they will be like
the rest of the world.
”
"As long as China fully liberalizes, consumption will increase, and I'm pretty sure China will become the dominant market
like the United States.
" China is close to India and is a good export destination
for India in the long run.
"But in the short term, shrimp farmers in India and Ecuador are having a hard time
.
" We have seen reports of prices plummeting in Ecuador, and the government and businesses seem to be looking for ways to ensure that shrimp farmers do not lose their livelihoods
because prices are too low.
”
like the United States.
" China is close to India and is a good export destination
for India in the long run.
"But in the short term, shrimp farmers in India and Ecuador are having a hard time
.
" We have seen reports of prices plummeting in Ecuador, and the government and businesses seem to be looking for ways to ensure that shrimp farmers do not lose their livelihoods
because prices are too low.
”
The situation in India is also quite gloomy
.
Avanti expects India's white shrimp production to decline by 200,000 tonnes in 2022, with a total production likely to be less than 700,000 tonnes
.
.
Avanti expects India's white shrimp production to decline by 200,000 tonnes in 2022, with a total production likely to be less than 700,000 tonnes
.
C.
Avanti Feeds, General Manager Ramachandra Rao said: "Because the price of white shrimp is so low, many farmers in Andhra Pradesh have said that they want to 'rest' and the sales of shrimp feed have also dropped
significantly this year.
Exports have fallen sharply, the United States and Europe have fallen into recession, the Chinese market has been locked down due to the epidemic, coupled with fierce competition from Ecuador, the shrimp industry is facing an unprecedented crisis
.
”
Avanti Feeds, General Manager Ramachandra Rao said: "Because the price of white shrimp is so low, many farmers in Andhra Pradesh have said that they want to 'rest' and the sales of shrimp feed have also dropped
significantly this year.
Exports have fallen sharply, the United States and Europe have fallen into recession, the Chinese market has been locked down due to the epidemic, coupled with fierce competition from Ecuador, the shrimp industry is facing an unprecedented crisis
.
”
At the start of this year, Avanti Feeds had expected Indian shrimp feed demand to increase by 15 per cent from last year to 1.
2 million tonnes
.
However, according to Avanti's latest forecast, the actual consumption of shrimp feed in India may fall to 97.
5-1 million tonnes
this year.
2 million tonnes
.
However, according to Avanti's latest forecast, the actual consumption of shrimp feed in India may fall to 97.
5-1 million tonnes
this year.
