Promising sector

According to the latest information from the Ministry of Fisheries and the Blue Economy, vessels licensed for the 2024 campaign generated revenues of 1.6 million USD.

The total royalties collected per vessel exceed six billion ariary, while export fees have reached 1.3 million USD. The current campaign, which began on March 1, 2024, is scheduled to end in November. The Ministry of Fisheries emphasizes the need to regularly update information on fishery resources to ensure transparency.

The data shows a promising entry into the sector, though it remains challenging to predict the revenue potential for shrimp this year. On average, shrimp are sold for 7.5 USD/kg on the world market. Some shrimp farming regions in Madagascar are certified organic or Label Rouge in European markets, a quality guarantee for distributors. Shrimp accounts for 12.5% of African exports, according to the Ministry of Fisheries.

Shrimp production in Madagascar has declined over the past decade. In 2013, the country produced over 8,000 tonnes of shrimp, generating USD 40 million in exports. By 2023, production had decreased to 3,500 tonnes, with exports valued at 27 million USD.