Shrimp imports to China reached 1 million tons

Published Jan 26, 2024

Tridge summary

In 2023, China's shrimp imports increased by 13% to a record 1.1 million tonnes, despite a slowdown in the second half of the year, which saw a 10% decrease in volumes and a 25% drop in prices. The value of imports in the latter half of the year also fell by nearly $1.0 billion compared to 2022. Ecuador was the top supplier, providing 697,102 tons, but the value remained at $3.5 billion due to falling prices. Meanwhile, imports from Vietnam increased by 23% due to rising black tiger shrimp prices, despite a significant 72% decrease in supply volumes.

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

Original content

Newly released full-year data from Chinese customs shows total shrimp imports rose 13% in 2023, reaching a record 1.1 million tonnes. But growth slowed in the second half of the year, with volumes down 10% and prices down 25%. Falling prices and volumes of imported shrimp pushed China's second-half import value down nearly $1.0 billion compared with the second half of 2022. China imported $2.9 billion worth of shrimp, up from $3.8 billion in the year-ago period. Purchases slowed in December 2023 as Chinese New Year buyers' schedules changed. December data shows China imported 70,618 tons of shrimp valued at $365.0 million, down 27% year-on-year in volume and 37% in value. Since the Spring Festival falls in February 2024, some shipments will arrive in early 2024. Ecuador supplied 23% more shrimp to China - 697,102 tons. However, with prices falling, the value remained unchanged at $3.5 billion as average import prices for Ecuadorian shrimp fell 19% to $5.09 per kg. India, ...

Source: Fishretail