Shrimp Price in Morocco - 2022
Contents:
- Shrimp Price in Morocco (FOB) - 2022
- Shrimp Price in Morocco (CIF) - 2022
- Shrimp Exports in Morocco
- Shrimp Imports in Morocco
Shrimp Price in Morocco (FOB) - 2022
The average shrimp export price stood at $8,129 per ton in 2022, picking up by 3% against the previous year. Over the period under review, the export price, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2016 an increase of 22%. Over the period under review, the average export prices attained the peak figure at $12,655 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($17,982 per ton), while the average price for exports to Denmark ($2,387 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+3.5%), while the prices for the other major destinations experienced a decline.
Shrimp Price in Morocco (CIF) - 2022
In December 2022, the average shrimp import price amounted to $2,809 per ton, picking up by 3.1% against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in January 2022 when the average import price increased by 16% against the previous month. Over the period under review, average import prices reached the maximum at $3,792 per ton in March 2022; however, from April 2022 to December 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Ecuador ($4,795 per ton), while the price for the Netherlands ($1,582 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Exports in Morocco
In 2022, the amount of shrimps exported from Morocco was estimated at 23K tons, rising by 3.2% against the year before. The total export volume increased at an average annual rate of +7.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 32%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.
In value terms, shrimp exports reached $187M in 2022. In general, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +8.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 43%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.
| Export of Shrimp in Morocco (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 63.4 | 53.1 | 80.4 | 84.9 | 10.2% |
| Netherlands | 63.9 | 54.7 | 69.9 | 73.9 | 5.0% |
| Sweden | 6.0 | 8.4 | 15.7 | 16.6 | 40.4% |
| Denmark | 8.8 | 2.1 | 3.5 | 5.0 | -17.2% |
| Belgium | 1.2 | 2.2 | 3.5 | 3.7 | 45.5% |
| Germany | 1.7 | 1.7 | 2.0 | 2.1 | 7.3% |
| Others | 0.3 | 0.3 | 0.7 | 0.6 | 26.0% |
| Total | 145 | 123 | 176 | 187 | 8.8% |
Top Export Markets for Shrimp from Morocco in 2022:
- Netherlands (12.9K tons)
- Spain (4.7K tons)
- Sweden (2.4K tons)
- Denmark (2.1K tons)
- Germany (0.4K tons)
- Belgium (0.4K tons)
Shrimp Imports in Morocco
In 2022, the amount of shrimps imported into Morocco rose rapidly to 38K tons, growing by 7.3% against the year before. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 14% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.
In value terms, shrimp imports expanded markedly to $111M in 2022. The total import value increased at an average annual rate of +3.5% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 32%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Import of Shrimp in Morocco (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 48.3 | 33.3 | 40.8 | 42.0 | -4.6% |
| Ecuador | 7.6 | 9.8 | 16.2 | 16.7 | 30.0% |
| Canada | 20.8 | 11.7 | 10.7 | 14.5 | -11.3% |
| Estonia | 1.9 | 2.6 | 7.1 | 7.3 | 56.6% |
| Greenland | 0.5 | 1.6 | 5.2 | 5.3 | 119.7% |
| China | 4.3 | 2.8 | 2.3 | 3.2 | -9.4% |
| Argentina | 3.1 | 1.2 | 2.9 | 3.0 | -1.1% |
| Belgium | 0.9 | 2.2 | 2.7 | 2.8 | 46.0% |
| Latvia | 0.1 | 1.5 | 2.5 | 2.6 | 196.2% |
| Lithuania | 0.8 | 1.9 | 2.4 | 2.4 | 44.2% |
| Germany | 1.5 | 1.4 | 1.4 | 1.4 | -2.3% |
| Others | 10.3 | 7.3 | 7.3 | 9.8 | -1.6% |
| Total | 100 | 77.3 | 102 | 111 | 3.5% |
Top Suppliers of Shrimp to Morocco in 2022:
- Netherlands (21.1K tons)
- Canada (3.5K tons)
- Ecuador (3.5K tons)
- Estonia (1.9K tons)
- Greenland (1.4K tons)
- Germany (1.3K tons)
- China (0.9K tons)
- Lithuania (0.7K tons)
- Latvia (0.7K tons)
- Argentina (0.7K tons)
- Belgium (0.6K tons)
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