W23: Shrimp Update

In W23 in the shrimp landscape, the Vannamei shrimp market in Thailand has been experiencing a continuous decline. The prices of shrimp have been steadily decreasing since April 2023, and there are no signs of improvement soon. The prices in W23 for Vannamei shrimp stood at USD 3.46/kg for a 60-count, USD 3.31/kg for 70-count, and USD 3.17/kg for 80-count. In Bangladesh, the intense heat and insufficient rainfall during the early summer had a severe impact on the shrimp industry, particularly in the Sathira district of Khulna. A shrimp farmer from Sarappur village, experienced a significant loss of USD 27K worth of shrimp just as he was preparing to sell them. The Ministry of Maritime Affairs and Fisheries (KKP) in Indonesia intends to establish a shrimp farm in Waingapu, East Nusa Tenggara (NTT) with an area of 1.8Kha in 2023. This initiative aligns with President Jokowi's objective of achieving a national shrimp production of 2 million tons by 2024. Also, the Minister of Maritime Affairs and Fisheries, anticipates that with a pond area of 1.8Kha, the shrimp farm can yield up to 100K tons of shrimp annually.

It was reported that in April 2023, India, Ecuador, and Indonesia continued to be the top 3 shrimp exporters to the US. In April 2023, India exported 21,451 tons of shrimp to the US, an increase from 19,991 tons in April 2022. On the other hand, Ecuador shipped 13.6K tons of shrimp to the US in April 2023, down from 15.3K tons in April 2022. Indonesia exported 12.3K tons of shrimp to the US, 17K tons in April 2022. In the first five months of 2023, the US imported 50K tons less shrimp than in 2022. Higher shrimp prices led to lower demand in the US.

According to the INIDEP Shrimp Program team, shrimp resources are abundant in the Argentine Sea, with fishing boats mainly concentrated in the far South and North regions outside the fishing closure area. Throughout the season, the fleet has been focusing on Subarea 13, where they have obtained satisfactory catches and commercially viable sizes, particularly L2. However, the prices of whole shrimp have been consistently decreasing due to the absence of agreements with other countries. This has created challenges for exporters in promoting and selling their products. Lastly, the 2023 Annual Certification is positive for Mexico and confirms that Mexican shrimp can continue to be exported to the US market, benefiting 107K fishermen and 430K of members of Mexican families.