As one of Indonesia's leading export commodities, the shrimp export business continues to be promoted by the Indonesian government. In fact, shrimp exports are targeted to increase by up to 250% in 2024.
According to the Ministry of Marine Affairs and Fisheries (KKP), Indonesia's shrimp export target markets include the United States (US), Japan, China, ASEAN (9 countries), and the European Union (27 countries), with a positive growth rate of 12.97 percent per year in 2022. However, Indonesia's share in the global shrimp market is still relatively low, at around 6 percent.
Currently, the US is the top destination for Indonesian exports, contributing 71.6 percent of the total national shrimp exports with Japan holding the second position. To increase Indonesia's market share in the shrimp export market, it is important to not just focus on countries that are already major shrimp importers, but also to explore other promising countries as potential new export destinations.
Saudi Arabia
The first potential export destination country for Indonesian shrimp is Saudi Arabia. According to seafoodsource.com, Saudi Arabia has temporarily banned shrimp imports from India due to cases of white spot disease. The country imposes strict requirements concerning biosecurity risks and the safety of imported products. While Saudi Arabia has a relatively high production of farmed shrimp, its domestic market still heavily relies on shrimp imports. It is estimated that Saudi Arabia's shrimp imports will continue to increase by 2.5% annually.
United Arab Emirates (UAE)
The United Arab Emirates (UAE) is another potential market for Indonesian shrimp exports due to its high seafood demand. In 2022, the UAE imported 51 thousand tons of shrimp every year, mostly from Ecuador and Argentina. Thus, Indonesia has a high potential to penetrate this market.
South Korea
South Korea is also a potential market for shrimp exports. This country has promising aquaculture resources and a high seafood consumption rate. However, shrimp imports in South Korea are still much higher than its exports. South Korea imports shrimp mostly from Vietnam, Thailand, and Ecuador, with vannamei shrimp as the main species. In fact, South Korea is the third-largest importer of vannamei shrimp from Vietnam after the US and Japan.
France
When exploring the potential for shrimp exports to Europe, one may find that France is one of the promising countries. This country has a high demand for shrimp with a 21% increase from 2015 to 2020. However, national production is far from sufficient to meet the high demand, causing France to rely on shrimp imports. From all the shrimp imported, 90% are of the raw peeled and raw HOSO variety.
Challenges in entering new markets
Considering the high demand for imported shrimp in many countries, it’s crucial for Indonesia to optimize its shrimp farming industry from upstream to downstream in order to enhance its competitiveness in the global market. The central and local governments should collaborate to establish hatcheries that produce high-quality shrimp fry and develop shrimp farming areas to improve production. Meanwhile, shrimp farmers can implement good farming practices, such as biosecurity measures, to ensure that their shrimp are high in quality and free from diseases while minimizing the negative environmental impact of their farms. Additionally, value-added shrimp products should be developed to improve market penetration opportunities.
![The Potential of Vannamei Shrimp Market in Indonesia [2024]](/_next/image?url=https%3A%2F%2Fstrapi.jala.tech%2Fuploads%2Fmedium_Cover_Potensi_Pasar_Udang_Indonesia_137c5310ff.webp&w=3840&q=75)
