Market Insights|1 min read|October 12, 2018

[Tridge Market Update] Global Shrimp Market to Stabilize

After months of turbulence, the global shrimp market is finally showing signs to stabilize.

Tough Year for the Major Players 

After months of turbulence, the global shrimp market is finally showing signs to stabilize. In the second quarter of 2018, the global shrimp price plunged, leading to a halt on production from the Asian suppliers. As the price started to show signs of recovery in August, the major suppliers in Asia have begun their production again, now preparing for the second harvest batch.

Quality before Quantity

East Asia is the biggest site for shrimp production where shrimp farms and hatcheries are concentrated. The warm-water species, Vannamei, also known as Pacific white shrimps, king prawn, or Whiteleg shrimp and Black Tiger shrimps are the major species in the East Asian countries. 

Major shrimp exporters under HS code of 160520, shrimps and prawns, prepared or preserved (source: Tridge)

Big challenges lie in shrimp aquaculture as viral diseases threaten both open sea and farmed shrimps. The most common and lethal virus is Whispovirus, also known as the White Spot Syndrome, that has stricken the shrimp industry once again. As the result, quarantine regulations are getting stricter in the EU nations and the U.S. South Korea and Australia, the newly rising buyers in the market, have also implemented very strong quarantine regulations on all imported shrimps. Therefore, choosing suppliers with long export history, excellent production capability and proven quality products with disease resistant broodstock have never been more important. 

Why Tridge Suppliers are Different

According to our database of suppliers in the seafood industry, we have identified top-quality 100+ global shrimp suppliers in 10 different countries. We have selected 8 suppliers that are the leading companies in their respective countries, providing the best quality products at the most competitive price of today’s shrimp market.  

Quality Proven Suppliers from Major Countries: China, Vietnam, Thailand, and India

There is a common concern prevalent in the shrimp industry over the quality control of shrimp products in some of the major producing countries. With the re-emerging occurrence of white spot syndrome virus, buyers are now shifting toward choosing suppliers with quality products, rather than those simply focusing on the quantity. Tridge partner suppliers in China and India have a long history of exporting their quality proven products to USA and EU countries with the capacity to produce large quantities.  

New players in the market: Bangladesh, Malaysia, and Indonesia 

Traditionally in the shrimp industry, Bangladesh, Malaysia, and Indonesia have been relatively less prominent in the market, leaving buyers uninformed on the capabilities and quality of suppliers in these two countries. In addition to our partnership with large, top-quality suppliers in the major producing countries, we have also newly engaged in the partnership with suppliers from Bangladesh, Malaysia, and Indonesia. 

What You Can Achieve with Tridge

All of our identified suppliers are quality proven suppliers with a long export history, certificates, buyer engagement in various regions, and the capability to respond to unpredictable market situations. Staying alert to the market trend is the key to identifying new market opportunities. With an extensive global intelligence network of local agents and research team of Tridge HQ, we are able to identify the sites of rising market opportunities. Seize new shrimp trade opportunities with Tridge today. 


Contact Us:

Editor: Wonjung Yun / wonjung.yun@tridge.com

Sourcing Team Expert: Elly Lee / eunjeong.lee@tridge.com

Or request for quotation through: http://www.tridge.com/inquiry


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