Shrimp imports continue to fall in United States

Published 2022년 12월 12일

Tridge summary

US shrimp imports have seen a decrease for the third consecutive month, with a 2% decrease from 2021, reaching 69,767 tons valued at $633.99 million in October 2022. This is due to high inventory levels, slow sales, and a reduction in supply from major producers like India and Vietnam. Despite these challenges, Ecuador has emerged as the second-largest supplier, increasing its exports by 22% in volume and 11% in value. This is attributed to increased production and lower prices, with Ecuador on track to export over a million tons by the end of the year and two million tons by 2025.

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

Original content

US importers imported 69,767 tons of shrimp, valued at $633.99 million, up from 85,478 tons, valued at $808.2 million in October 2021, according to the latest released seafood trade data from the National Oceanic and Atmospheric Administration (NOAA). This marked the third consecutive month of cuts. The U.S. is now approaching ending the year with shrimp imports down 2% from 2021, although overall sales appear to pick up slightly. The US imported 715,711 tons of shrimp worth $6.7 billion between January and October, compared with 729,667 tons worth $6.4 billion imported in the first 10 months of 2021, according to NOAA. James Galkin, CEO and founder of Siam Canadian Group, a leading shrimp exporter, told Undercurrent News he sees several variables in the trend. “The US is still full of stocks. Foodservice sales are slow. Retail sales are slow. Importers slowed down sharply. Retailers have slowed down. Inventory must be processed before business returns to normal, and inventory is ...

Source: Fishretail