Shrimp Price in China - 2023
Contents:
- Shrimp Price in China (CIF) - 2023
- Shrimp Price in China (FOB) - 2023
- Shrimp Imports in China
- Shrimp Exports in China
Shrimp Price in China (CIF) - 2023
In June 2023, the average shrimp import price amounted to $5,900 per ton, standing approximately at the previous month. Over the period under review, the import price recorded a mild slump. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 5.9% month-to-month. The import price peaked at $6,900 per ton in September 2022; however, from October 2022 to June 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Thailand ($10,929 per ton), while the price for Saudi Arabia ($4,966 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in China (FOB) - 2023
The average shrimp export price stood at $13,045 per ton in June 2023, leveling off at the previous month. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 8.2% month-to-month. As a result, the export price reached the peak level of $14,232 per ton. From March 2023 to June 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($21,138 per ton), while the average price for exports to Russia ($6,823 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in China
In 2022, approx. 1,000K tons of shrimps were imported into China; jumping by 51% compared with the year before. In general, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +11.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, shrimp imports skyrocketed to $6.9B in 2022. Over the period under review, imports saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Shrimp in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ecuador | 1,838 | 1,665 | 2,168 | 3,943 | 29.0% |
| India | 908 | 598 | 722 | 1,158 | 8.4% |
| Vietnam | 289 | 204 | 151 | 327 | 4.2% |
| Thailand | 372 | 213 | 257 | 300 | -6.9% |
| Canada | 146 | 103 | 111 | 218 | 14.3% |
| Greenland | 84.1 | 92.0 | 72.5 | 146 | 20.2% |
| Argentina | 253 | 180 | 105 | 107 | -24.9% |
| Peru | 29.5 | 19.6 | 62.1 | 105 | 52.7% |
| Saudi Arabia | 179 | 36.7 | 66.3 | 72.9 | -25.9% |
| Malaysia | 82.2 | 73.3 | 88.9 | 72.5 | -4.1% |
| Myanmar | 33.8 | 42.4 | 26.4 | N/A | -11.6% |
| Others | 254 | 210 | 229 | 485 | 24.1% |
| Total | 4,468 | 3,437 | 4,058 | 6,934 | 15.8% |
Top Suppliers of Shrimp to China in 2022:
- Ecuador (599.4K tons)
- India (161.2K tons)
- Vietnam (48.9K tons)
- Canada (33.0K tons)
- Thailand (26.0K tons)
- Greenland (24.6K tons)
- Peru (16.0K tons)
- Argentina (12.5K tons)
- Saudi Arabia (11.9K tons)
- Malaysia (8.5K tons)
Shrimp Exports in China
In 2022, shrimp exports from China fell remarkably to 149K tons, waning by -17% on the previous year's figure. Overall, exports saw a noticeable reduction. The pace of growth appeared the most rapid in 2021 with an increase of 13%. As a result, the exports reached the peak of 180K tons, and then reduced notably in the following year.
In value terms, shrimp exports shrank to $2B in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. As a result, the exports attained the peak of $2.1B, and then fell in the following year.
| Export of Shrimp in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 70.8 | 75.1 | 158 | 298 | 61.5% |
| Hong Kong SAR | 180 | 205 | 306 | 225 | 7.7% |
| Japan | 208 | 207 | 212 | 225 | 2.7% |
| Taiwan (Chinese) | 281 | 219 | 231 | 211 | -9.1% |
| Mexico | 96.6 | 98.0 | 200 | 161 | 18.6% |
| South Korea | 121 | 123 | 160 | 126 | 1.4% |
| Singapore | 67.0 | 66.3 | 88.2 | 124 | 22.8% |
| United States | 249 | 222 | 131 | 119 | -21.8% |
| Chile | 55.8 | 82.5 | 196 | 107 | 24.2% |
| Canada | 106 | 69.6 | 88.3 | 102 | -1.3% |
| Spain | 89.2 | 79.9 | 99.1 | 87.4 | -0.7% |
| Russia | 50.3 | 34.6 | 53.5 | 50.0 | -0.2% |
| Australia | 80.8 | 55.7 | 38.3 | 42.3 | -19.4% |
| Others | 176 | 126 | 145 | 152 | -4.8% |
| Total | 1,833 | 1,664 | 2,105 | 2,031 | 3.5% |
Top Export Markets for Shrimp from China in 2022:
- Japan (24.6K tons)
- Hong Kong SAR (16.1K tons)
- Malaysia (14.3K tons)
- United States (11.8K tons)
- Spain (10.8K tons)
- Taiwan (Chinese) (10.7K tons)
- South Korea (9.8K tons)
- Canada (9.4K tons)
- Chile (7.4K tons)
- Mexico (7.0K tons)
- Singapore (6.9K tons)
- Russia (5.2K tons)
- Australia (3.3K tons)
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