U.S. importer: Shrimp market shows signs of reversal in the second half of the year

Published Sep 8, 2023

Tridge summary

In the first half of 2023, the United States saw a decrease of 18% in imported shrimp products compared to the previous year. If this trend continues, it will result in the lowest imports since 2017. However, there are signs of improvement in the second half of the year, with retailers receiving inquiries and promotional campaigns expected to boost the market in November and December. Despite the decline in import volume, prices have not increased, indicating that the market is not responding to the decrease in supply.

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

Original content

In the first half of 2023, the United States imported 361,000 tons of shrimp products, a year-on-year decrease of 18%. If this trend continues to the second half of the year, imports for the whole year will drop to 690,000 tons, a new low since 2017. However, some U.S. importers believe that there are already some signs of improvement in the second half of the year. During the Global Shrimp Forum, Henry DelaLlana, purchasing manager of Chicken of the Sea Frozen Foods, a subsidiary of Taiwanson, said: "We have received There are a lot of inquiries from retailers. For us, the holidays are the peak season for shrimp demand and it is too late to start stocking up for the fourth quarter. We think that the second half of the year is mainly to prepare for next year’s Lent.” Travis Larkin, manager of US importer Seafood Exchange, said: "We will see better trends in the market in November and December. We will participate in promotional campaigns and importers will see some hope." ...

Source: Foodmate