Indian shrimp prices continue to rise, U.S. demand increases
This week, shrimp prices in the Andhra Pradesh production area of India continued their upward trend, with medium to large sizes rising by INR 5/kg ($0.06/kg), while small sizes saw a smaller increase.
The continuous rise in shrimp prices reflects changes in market supply and demand, with exporters expecting U.S. buyers to return to the Indian supply chain, as recent U.S. wholesale prices have increased significantly.
On the other hand, starting from August 27, the U.S. imposed a 50% tariff on Indian shrimp, causing farmers to be cautious about future production or to choose to harvest shrimp early, making the supply of large-sized shrimp, which is favored by the U.S. market, even tighter.
Ecuador prices remain stable, cancellation of diesel subsidies may lead to increased costs
In the 39th week, pondhead prices in Ecuador remained stable compared to last week, with 20/30 sizes having a higher premium price, $1.0/kg higher than 30/40 sizes.
The industry is concerned that the cancellation of diesel subsidies by the government will lead to increased costs, along with potential issues such as transport driver strikes; Ecuador's security situation has not been fundamentally alleviated, with criminal elements frequently extorting shrimp farms.
Vietnam large-sized shrimp prices rise, medium and small sizes remain stable
Vietnam's large processing factories have once again increased the purchase prices of some raw materials, with prices for 30-count (per kilogram) rising, while small sizes remain stable compared to last week.
The overall purchase volume of processing factories remains stable, with no special circumstances, and it is expected that large-sized raw materials will remain scarce in the coming weeks. Additionally, prices for Vietnam's black tiger shrimp are stable with a slight increase.
Indonesia prices remain stable, U.S. market suffers
In the 39th week, shrimp prices in East Java, Indonesia, remained stable compared to last week. The U.S. inclusion of Indonesian company BMS on the red list has severely impacted local farming and processing industries, causing prices to fall to their lowest point this year, a situation that has persisted for several weeks. Shrimp prices in the area where BMS processing factories are located are 20-30% cheaper than in the East Java region.
On September 10, the U.S. Food and Drug Administration (FDA) returned 139 containers of BMS company products, but allowed 18 containers (600 tons of shrimp) to be transported to other countries. This incident was criticized by the U.S. Southern Shrimp Alliance, which stated that these non-compliant products might eventually re-enter the U.S. market through other channels.
Thailand sees some sizes increase
Finally, in the 39th week, some sizes of farmed white shrimp from South America in Thailand increased, with 70-count sizes rising by THB 2.50/kg ($0.08/kg), while other sizes remained unchanged. Overall, Thailand's pondhead prices are still down 2-3% compared to the same period last year.