W10 Shrimp Update: Upward Price Trend in Asian White Shrimp, Declining Average Prices in Argentina

Published 2024년 3월 15일

In W10 in the shrimp landscape, Asian white shrimp prices experienced mixed trends, with increases seen in Thailand, Vietnam, and Indonesia. Thai white shrimp prices surged notably, with all sizes experiencing upward movement. Vietnam and Indonesia also observed price hikes. Conversely, prices in Andhra Pradesh, India, dipped. In Argentina, Jan-24 data indicates a rise in demand for Argentine whole shrimp, particularly from Spain, but concerns persist over declining export prices despite increased volumes. Spain emerged as the largest buyer, while China, Japan, and the US re-entered the market, albeit with varied purchase volumes and export prices.

Upward Price Trend in Asian White Shrimp Key Producers, Downturn in India

W9 witnessed a divergence in shrimp prices across key Asian white shrimp producing countries. Thai white shrimp prices exhibited a clear upward trend, with ex-factory prices for all sizes (60, 70, and 80 heads) increasing by USD 0.070 per kilogram (kg) week-over-week (WoW). This translates to USD 3.76/kg, USD 3.62/kg, and USD 3.35/kg, respectively. Shrimp prices in Vietnam also experienced an increase, rising from USD 4.21/kg to USD 3.73/kg. Similarly, Indonesia observed a price hike for shrimp during the same period.

In contrast to the upward trend, shrimp prices in the Indian state of Andhra Pradesh declined. The price for 60 shrimps fell to USD 3.68/kg. Ecuadorian shrimp prices remained relatively stable, with prices for 50/60 and 60/70 size shrimps hovering around USD 2.90/kg and USD 2.70/kg, respectively.

Argentine Shrimp Exports See Rise in Demand Despite Declining Average Prices

Jan-24 data from the Chamber of Fishing and Freezer Shipowners of Argentina (CAPECA) reveals a potential increase in Argentine shrimp demand, particularly for whole shrimp. However, the ongoing export price decline remains a concern. Whole shrimp exports witnessed a significant increase of 58% YoY in Jan-24, reaching a total volume of 4,263 metric tons (mt). Despite the demand surge, the average export price for whole shrimp fell by 2% YoY, continuing a downward trend observed in recent years.

Spain emerged as the primary buyer, importing 2,402 mt, indicating a 639% YoY increase. However, the export price to Spain was the lowest at USD 5,039/mt. China, Japan, and the United States (US) re-entered the Argentinian whole shrimp export market, purchasing 442 mt, 409 mt, and 257 mt, respectively, compared to zero purchases on Jan-23. The export price to the US market was the highest at USD 5,866/mt. Italy, Russia, and South Africa witnessed a decrease in demand for Argentinian whole shrimp in Jan-24.