W33: Shrimp Update

In W33 in the shrimp landscape, Ecuadorian raw shrimp prices have increased due to concerns about a shortage of shrimp products, prompting processing plants to increase the prices of shrimp for the Chinese market. Chinese buyers accepted the increased prices, while Ecuador's export volume of orders to China remained unchanged. The price situation in the coming weeks will depend on the balance between buyers and sellers.

The export value of Vietnamese shrimp to Japan as of July 15, 2023 was USD 256 million, a 29% year-over-year (YoY) decrease. Vietnamese penaeus vannamei shrimp accounted for 63.5% of the shrimp products exported to Japan, while black tiger shrimp accounted for 17.9%. In the first half of 2023, the export value of Vietnamese white-leg shrimp was USD 150 million, a 26% YoY decrease. The export value of Black tiger shrimp decreased by 45% YoY to USD 42 million. Vietnam remains the largest supplier of shrimp products to Japan, accounting for 23.7% of the market share.

Trà Vinh province in Vietnam lost nearly 1.4 thousand hectares (ha) of black tiger shrimp and vannamei shrimp, with over 1.3 million breeding stock. The shrimp has been severely damaged by white spots, red bodies, and intestinal diseases. The Department of Agriculture and Rural Development dispatched technical professionals to assist with dead shrimp ponds, improve inspection and quarantine for shrimp seed, and monitor shrimp health to prevent the spread of disease. The management of the water environment from the source to the discharge is also advised to farmers.

Shrimp exports from the Khulna region in Bangladesh are declining yearly due to problems with shrimp production. These difficulties include a shortage of the brackish water required for shrimp farming, virus outbreaks that affect shrimp health, the reluctance of farmers to adopt modern and more effective farming techniques, and the lack of access to disease-free shrimp fries for stocking the farms. These elements have led to a reduction in shrimp exports and a decline in shrimp production in the Khulna region. Bangladesh has experienced a decrease of 3 thousand tons of shrimp exported annually for the past five years. During the fiscal year 2021/22, a total of 24.1 thousand tons of Bagda and Galda shrimp were exported. This value decreased to 19.9 thousand tons in the 2022/23 season.