Tropical prawn prices are soaring, while the consumption of frozen Penaeus remains 31%, imports to Europe came from Ecuador in 2019

Published 2022년 1월 20일

Tridge summary

The global market for tropical shrimp is facing challenges due to increasing demand and decreasing supply, leading to a surge in prices. The situation is being described as complicated and tense. The Covid-19 pandemic disrupted the global market, with China, the main buyers, halting purchases, causing a price collapse. However, demand is now rising again, while supply remains low due to Covid situations in production countries like India and Vietnam, blockages in Chinese ports, and soaring global maritime freight costs. The situation is further exacerbated by speculation and a lack of competition, with the market being dominated by three or four companies.

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

Original content

Extraordinary, complicated, tense: this is how warm-water shrimp buyers describe the current situation. Rising demand and unavailable products have pushed up world prices. The year 2021 revealed the weaknesses of this globalized market but also the helplessness of Europeans. To say that tropical shrimp is a universal product is not an empty word. Resulting mainly from farming, it is one of the most produced, marketed and consumed species in the world, coming in second place behind salmon on the international seafood market. But today, nothing is going right. . While the global market was humming, the Covid came to upset the cards. “For ten years, the price of tropical shrimp has been linked to the Chinese domestic market. They are now the main buyers, which deprives the Europeans of their bargaining power,” explains Gwenaelle Le Dantec, CEO of SI2A, a company specializing in the import and marketing of tropical shrimp. When the Covid crisis started in March 2020, the Chinese ...

Source: Pdm-seafoodmag