China: Imported shrimp continued to be weak in May, with sales down 30% year-on-year

Published Jun 27, 2024

Tridge summary

The first five months of the year have seen a significant decrease in shrimp imports, with a total volume of 367,435 tons, a 11% drop year-on-year, and a total value of US$1.78 billion, a 24% decrease year-on-year. This decline is primarily due to weak consumer demand, increased domestic production, and inventory issues. Specifically, Ecuador's shrimp exports to China saw a 31% year-on-year decrease in volume and a 42% decrease in value. The average price of Ecuadorian shrimp imports also fell by 17% year-on-year to $4.50/kg. In contrast, Indian shrimp imports showed a modest increase of 5% in volume, but the average price fell to $5.17/kg. The import volumes of shrimp from Vietnam, Malaysia, Argentina, and Peru also experienced double-digit declines, and the sales volume of countries not in the top ten supplier list fell by up to 70%.

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

Original content

In the first five months, the total import volume was 367,435 tons, down 11% year-on-year, and the import value was US$1.78 billion, down 24% year-on-year. The import shrimp market was weak in the first half of the year, mainly due to weak consumer demand, increased domestic shrimp production, and inventory-related issues. In May, Ecuador exported 50,129 tons of shrimp to China, down 31% year-on-year, and the transaction value was US$226 million, down 42% year-on-year. The average price of Ecuadorian shrimp imports was $4.50/kg, down 17% year-on-year. The import volume of Indian shrimp was 12,598 tons, up 5% year-on-year, and the average price was $5.17/kg (in shrimp In the first five months, the price of shrimp from Ecuador and India fell by double digits, and the average price of imported shrimp basically hit the lowest level in the past decade. In the first five months, the import performance of Indian shrimp was relatively high, with a cumulative import volume of 54,819 tons, ...

Source: Foodmate