Global shrimp industry faces oversupply dilemma by 2024

       Global shrimp production is expected to reach around 3.9 million tons by 2024, and the industry will continue to face oversupply. As the new leader in global shrimp production, Ecuador's shrimp production in 2023 increased by 12% year-on-year to about 1.4 million tons, and by 2024 production will remain at 1.5 million tons.
        India, the second largest producer of shrimp products, will maintain a steady output of 700,000 tons in 2024, with production increasing by around 3%. The world's major shrimp producers will have to face the problem of price decline due to oversupply in the international market.