© TCRS
The Centre for Responsible Seafood (TCRS) hosted its third annual Shrimp Summit in Bali, Indonesia, building on discussions from previous years about the industry’s most pressing challenges. This year’s agenda ranged from strengthening engagement with smallholder farmers to navigating the evolving US tariff landscape.
The US tariff situation had not yet clarified when the summit took place, and it continues to cast a long shadow over global markets. An executive order issued on 6 August threatens a 25 percent additional tariff (50 percent total) on Indian exports to the US, effective 27 August.
Global shrimp markets continue to face uncertainty, confusion, and the risk of major disruptions. At the summit, Matt Livesay of Red Lobster said prices in the food service sector were already shifting in anticipation of the tariffs, with contingency planning – from adjusting portion sizes and menus to exploring alternative proteins and sourcing from lower-risk regions – well underway.
Ragnar Nystøyl, chief analyst at Kontali Analyse, emphasised the importance of market diversification to the continued growth of the shrimp industry. While the US remains the world's biggest market for shrimp, accounting for roughly 20 percent of global shrimp consumption, market growth in the EU, southeast Asia and Japan is helping to offset the declining US market. Travis Larkin, chief executive of Seafood Exchange and session moderator, noted the importance of collaboration between producers and retailers to promote seafood consumption.
Disease and costs temper production, but growth still possible
The session on Global Production featured an analysis of production data by Erwin Termaat of Kontali Analyse and country-specific insights from an international panel of experts. Termaat projected an increase of 5 to 6 percent in global shrimp production for 2025, led by Ecuador (10 percent growth). He noted, however, that disease outbreaks and rising costs have slowed the growth rate over the last five years.
Ravi Kumar Yellanki of Vaisakhi Bio-Marine in India acknowledged the headwinds created by disease but saw promising growth potential in the domestic market. Min Phu Seafood Export's Nguyen Hoang Liem cited US tariffs and disease as obstacles to growth, but was optimistic that the diversification of production models might overcome those factors.
