This year's global shrimp price is expected to increase by 7% due to galloping freight rates
Frozen Common Shrimp & Prawn
Published Jan 18, 2022
Tridge summary
In a newly released report, market analysis company IndexBox said that this year, the world shrimp price could increase by 7% to an average of 15 USD/kg due to consumption demand, transportation costs and fuel prices. all escalate. The above prediction was made based on the October 2021 report of the World Bank (World Bank). Thus, this year's shrimp price will be 12.7 USD/kg higher than the general level in 2021 and 10% higher than the 2020 price.
Original content
In a newly released report, market analysis company IndexBox said that this year, the world shrimp price could increase by 7% to an average of 15 USD/kg due to consumption demand, transportation costs and fuel prices. all escalate. The above prediction was made based on the October 2021 report of the World Bank (World Bank). Thus, this year's shrimp price will be 12.7 USD/kg higher than the general level in 2021, and at the same time up 10% compared to the 2020 price. SeafoodSource, citing information from IndexBox, said that the main factor driving up shrimp prices in 2022 is logistics costs. In the third quarter of 2021, the cost of shipping a 20-foot and 40-foot container from Asia to North America hit $13,000 and $20,000, respectively, an increase of 500-700 percent due to shortages of empty containers, according to FAO. Despite the expensive freight, shrimp imports from the US and Europe remained high thanks to the recovery of the hotel, retail and catering sectors. ...
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