Global shrimp prices fluctuate, and the Chinese market is under pressure

Published 2024년 10월 10일

Tridge summary

In week 41 of 2024, India saw a surge in shrimp prices due to production constraints and strong demand from the US market, making it the third most expensive white shrimp exporter in the world. Prices in Indonesia, China, Vietnam, Thailand, and Ecuador varied, with falls in Indonesia and Vietnam, stable prices in Thailand and Ecuador, and flat or declining prices in the Chinese market. The price increase in India is attributed to disease outbreaks, floods, and competition for limited raw materials. The high demand is particularly for large-sized shrimp, leading to signs of panic buying. It is anticipated that these high prices may persist for several months.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In week 41 of 2024 (October 7-13), shrimp prices in India continued to rise, driven by production restrictions and strong demand from the US market. At the same time, shrimp prices in the Indonesian and Chinese markets fell sharply, and prices in Vietnam fell again after the previous increase, while prices in Thailand and Ecuador remained stable. After a week of continuous increases, India is now one of the third most expensive white shrimp exporters in the world, with the price of 60 pieces per kilogram reaching US$3.98/kg. Thailand topped the list with a price of US$4.55/kg, and Vietnam with US$4.23/kg. USD/kg followed closely. Indonesia fell to fourth place, with the price of 60 pieces per kg shrimp falling to USD 3.81, a major reversal from the first half of 2024 when Indonesia led the price. Ecuador, as always, has the lowest ex-factory price, with 60-70 pieces per kg shrimp at USD 3.30 and 50-60 pieces at USD 3.00. Indian shrimp prices rise due to "panic buying" Indian ...

Source: Foodmate