Shrimp market in the world in the 3rd week of May 2023

Published 2023년 5월 23일

Tridge summary

US shrimp farmers are seeking restrictions on imports to protect domestic market as they face competition from foreign suppliers, including a significant increase in production from Guyana. Despite the Chinese market reopening, its shrimp imports are declining, and prices have dropped. Ecuador has emerged as a dominant supplier to China, while Indonesia and Vietnam are struggling with decreased demand and high inflation, impacting their shrimp exports. Vietnamese exporters are further handicapped by financial challenges and unfavorable weather conditions.

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

Original content

The US imports shrimp mainly from India, Ecuador, Indonesia, Vietnam, Thailand, Mexico, Argentina, Peru, Bangladesh and China. Shrimp farmers in the US state of Louisiana have asked the Government to ban or limit shrimp imports to prioritize domestic consumption. In Guyana, South America, production of black tiger shrimp has increased by 44.6%, reaching more than 274 million USD. Brackish shrimp production is concentrated in Region Six, with 37 farms. In 2023 the budget set aside $349.6 million to support the fishing industry in Guyana. The Chinese market has reopened, but exports are still falling, and the price of commercial shrimp has also dropped sharply. China's shrimp imports in the first quarter of 2023 increased by 34%, reaching a record 105,687 tons. The average price of imported shrimp was 5.5 USD/kg, up from 5.3 USD/kg in the previous month. Ecuador is the largest shrimp supplier to China, followed by India, Argentina, Saudi Arabia, Thailand and Vietnam. In Indonesia, ...

Source: Vinanet