The imported shrimp market in Europe and the US will pick up in the second half of the year, but demand in China will decline, according to Rabobank

The report said European and American markets appear to have bottomed out in the first half of 2024, with demand gradually recovering. To some extent, inflationary demand constraints are no longer as significant, and supply is recovering in Indonesia and Vietnam. However, demand in China remains uncertain and short-term gains in Chinese shrimp prices in the second half of the year could be offset by gains in Ecuador or India. Positive factors for the shrimp industry in the second half of the year include increased fishmeal supplies, lower feed costs and recovering markets in the US and European Union. These factors may offset the impact of declining Chinese imports on the global market, but how long this trend may continue remains unclear. Rabobank forecasts that China's imports will decline in the second half of the year, mainly due to economic problems and rising domestic supply. At the same time, production in Ecuador and India will continue to grow. Ecuadorian exporters plan ...