Shrimp fishermen in Madagascar have generated over seven billion ariary (USD 1.57 million) in revenue. The latest figures from the Ministry of Fisheries and the Blue Economy report a total of 7.455 billion ariary (USD 1.67 million) collected from licensed fishing vessels. Of this amount, over six billion ariary (USD 1.34 million) comes from fees per vessel, while export-related fees contribute 1.4 billion ariary (USD 313 thousand). The current fishing season, which started on March 1, 2024, is set to conclude in November.

Increased Transparency and Recovery in the Shrimp Sector

The Ministry of Fisheries emphasizes the importance of regularly updating data on fishing resources to ensure transparency. The shrimp industry in Madagascar is showing signs of recovery following a challenging period in previous years. Five Malagasy companies, each operating between five and ten trawlers, received their fishing licenses at the start of the year, marking a positive step forward for the sector.

The early figures for the 2024 campaign indicate a promising start for the shrimp industry. Despite this, it remains too early to predict the total revenue that shrimp exports will generate this year. Madagascar’s shrimp, highly valued on international markets, sell for an average of 34,000 ariary (USD 8), as per the Central Bank’s economic report. Known for their quality, some shrimp from Madagascar’s farming areas are certified Organic or Label Rouge, a prestigious quality label in certain European markets. Shrimp exports from Madagascar account for 12.5% of Africa’s total shrimp exports.

Challenges and Decline in Shrimp Production

Despite the positive developments, the shrimp industry in Madagascar has faced significant challenges in recent years. Issues such as decreased production and the rise of illegal and unreported fishing (IUU) have impacted both operators and authorities. In 2023, the Ministry of Fisheries and the Blue Economy reported a reduction in shrimp production, with vessels catching only 3,500 tons. Nearly 90% of this catch was destined for export.

Over the past decade, Madagascar’s shrimp sector has seen a gradual decline in production. In 2013, the country produced over 8,000 tons of shrimp, generating 178 billion ariary (USD 39.86 million) in export revenue. In contrast, 2023 saw a production of just 3,500 tons, with a Free on Board (FOB) value of 124 billion ariary (USD 27.76 million). Nonetheless, shrimp fishing still contributed 16 billion ariary (USD 3.58 million) to the economy last year.