Strong demand drives up shrimp prices in India, China and Indonesia

Published 2024년 7월 18일

Tridge summary

In mid-July, farmgate prices for white shrimp in Andhra Pradesh, India, rose by 3-4% due to strong US demand and tight supply, worsened by rainfall affecting production. Meanwhile, Ecuadorian shrimp prices remained stable for the sixth week in a row. In China, shrimp prices saw a significant increase in southern provinces, while northern provinces experienced lower prices. Indonesia and Vietnam also reported slight increases in shrimp prices during the same period.

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

Original content

US demand and tight supply drive price rise in India In India, farmgate prices for white shrimp in Andhra Pradesh rose 3-4% in week 29 (July 15-21), with 70-tail size at 255 Indian rupees (about $3.05) per kilogram, while 60-tail size rose to 335 Indian rupees (about $4.01) per kilogram. An executive of a large Indian processing company who wished to remain anonymous said the price increase was mainly driven by strong US demand and tight supply. Promotions on low-cost inventory in the US retail market have boosted demand for shrimp, leading to increased purchases by importers. In addition, rainfall in India has also affected shrimp production. Another industry insider pointed out that supply shortages were the main reason for the price increase. He mentioned that the first large-scale stocking this year failed to be completed as scheduled, with a survival rate of only 55-60%, which made it difficult for packers to obtain enough raw materials to complete orders. Ecuadorian prices ...

Source: Foodmate