Madagascar Registers a Drop in Shrimp Exports in 2024
On 4 March 2025, the Malagasy Minister of Fisheries and the Blue Economy Paubert Mahatante reveled that Madagascar exported USD 22.5 million of shrimps in 2024. The figure represents a 18% drop compares to 2023 when the volume was USD 26.6 million.
The decrease in revenue is correlated with a drop in the production of 17% year-on-year in 2024. Consequently, the drop in exports led to a squeeze in tax revenues of about USD 2.6 million. Shrimps represent by far the largest seafood export from Madagascar and is sometimes referred to as the ‘pink gold’ locally.
| Seafood | Export Volume Tonnes per Year | Export Value USD per Year | Remarks |
|---|---|---|---|
| Shrimp | 50,000 | 350M | Primarily to EU and USA |
| Lobster | 10,000 | 120M | Primarily to Asia |
| Tuna | 7,000 | 60M | Yellowfin primarily goes to Japan and others to EU |
| Octopus | 5,000 | 40M | Primarily to Europe and Asia |
| Shellfish | 2,000 | 15M | Includes Crabs, Squids, Clams, … |
Shrimps in Madagascar are either caught from the sea or raised in aquaculture farms. The most prized variety is commonly known as the pink shrimp, black tiger shrimp or gambas. It is a shrimp species endemic to Madagascar known under the scientific name of Penaeus Monodon.
It is claimed that the Malagasy pink shrimp one of the best tasting the world with a firm but juicy flesh and can thus command a premium price destined for the EU or US markets.
In addition, the shrimp farmers also tend to adopt sustainable practices by avoiding antibiotics and pesticides in order to produce a natural product as far as possible. Therefore, the gambas of Madagascar has won the Red Label which is a guarantee of its quality.