Pre-holiday price hikes in China market
The prices of shrimp in major Chinese farming provinces have generally risen. The pondhead price for 60-count shrimp in Guangdong, Shandong, Jiangsu, and Guangxi has increased by 2 yuan/kg, while Fujian saw a small increase of 1 yuan/kg, reversing the stable trend of the previous few weeks. Industry insiders pointed out that shrimp farmers generally delayed their shipments, waiting for the consumption peak during the National Day holiday (October 1-8). "This year's National Day holiday is longer, with stronger consumption demand, and farmers are even less willing to ship early," said an industry insider. This strategy has led to a tight market circulation, especially with large-sized shrimp in short supply, and the wholesale price is expected to continue rising. The meteorological department also warned that frequent typhoons in late September may disrupt shrimp harvesting and transportation.
Indian prices continue to climb
The price of large-sized shrimp in Andhra Pradesh, India, continued to rise in the 39th week, with a month-on-month increase of 5 rupees/kg for 30-count to 70-count shrimp, while small-sized shrimp remained stable. The price increase was mainly due to raw material shortages and strong demand from exporters. Although the U.S. imposed a 50% tariff on Indian seafood starting from August 27, making the export environment uncertain, market news indicated that the U.S. wholesale price index has recently risen, and exporters expect a turnaround in the future. Industry insiders said that due to raw material shortages and order support, prices will remain firm in the short term. However, if the tariff issue cannot be resolved, farmers may abandon the cultivation of large-sized shrimp and switch to medium and small sizes to reduce risks.
Indonesian prices under pressure
In comparison, the Indonesian market remains sluggish. Due to the U.S. Food and Drug Administration (FDA) completely banning exports from three BMS factories, access to the U.S. market is restricted, and the 30-count shrimp in East Java has remained flat for two consecutive weeks, with no improvement in other sizes. Aceh and North Sumatra, which rely on BMS processing plants for procurement, have pondhead prices that are 25%-30% lower than Java. Meanwhile, in Banten and Makassar, where alternative processors exist, prices remain relatively stable.
Ecuador and Vietnam maintain high prices
Ecuador's shrimp prices remained stable for the second consecutive week, with the 50/60 size unchanged, and large sizes 20/30 maintaining a premium of over 1 USD/kg. However, the cancellation of diesel subsidies and threats of transportation strikes still concern the market.
Vietnam's major processing plants have chosen to increase the procurement price for large-sized shrimp to alleviate raw material shortages, with a small increase in the 30-count size, while others remain stable. The industry expects that the supply of large-sized farmed shrimp will remain limited, and the high-price pattern will be difficult to change in the short term.
Thailand's prices rise slightly
Thailand's 70-count shrimp prices rose slightly by 2.5 baht/kg (approximately 0.08 USD), while other sizes remained stable, and the overall price is still at its highest level since April.
Overall, prices in China, India, and Vietnam remain strong, Thailand's prices rise slightly, Ecuador's prices remain stable, while Indonesia continues to face pressure due to export restrictions. With the approaching holiday season in China, the global shrimp price trend is expected to continue to diverge: high-premium producing areas will remain firm, while weaker producing areas face further downward pressure.