The global market for shrimp, lobster and squid on the second day of the Barcelona exhibition

Published Apr 26, 2024

Tridge summary

The South American white shrimp market is showing signs of recovery after a challenging 2023, with low impact from US countervailing duties. European and American inventories have run low, leading to slow retail demand recovery. The market does not anticipate significant impact from US anti-subsidy tariffs on imported shrimp. In contrast, Peruvian squid production has significantly dropped due to adverse marine climate conditions, with a low production cycle lasting 9-10 months. Meanwhile, Australian lobster suppliers are launching retail packaging products targeting European supermarket chains, and Norwegian land-based rainbow trout producer Hima Seafood is planning to expand its production capacity in the United States. French lobster supplier 5DO is expanding overseas market sales with value-added products, while changes in the minimum size of lobster fishing in the United States are expected to lead to a significant decline in supply.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

1. The white shrimp market is recovering slowly, and the impact of US countervailing duties is low After a difficult 2023, the South American white shrimp market began to recover slowly. Jim Gulkin, general manager of Siam Canadian Group, told UCN: "European and American inventories seem to have run out, and retail demand is slowly starting to recover." Gulkin said that the market environment last year was very bad, and Siam Canadian is still able to make a profit, but sales have declined. 2024 has a good start, with both retail and catering service sales increasing. We hope that customers can hurry up to place orders to replenish stocks during the low-price period, so that the white shrimp market can improve. Gulkin does not think that the US anti-subsidy tariffs on imported shrimp will impact the entire market. Ecuador's anti-subsidy tariff calculation was wrong. After correction, the tax rate was significantly reduced. Santa and other suppliers' tax rates were reduced to 2.89%, ...
Source: Foodmate
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