Shrimp Price in the United States - 2023
Contents:
- Shrimp Price in the United States (CIF) - 2023
- Shrimp Price in the United States (FOB) - 2023
- Shrimp Imports in the United States
- Shrimp Exports in the United States
Shrimp Price in the United States (CIF) - 2023
The average shrimp import price stood at $8,249 per ton in June 2023, falling by -1.7% against the previous month. Over the period under review, the import price showed a mild descent. The most prominent rate of growth was recorded in May 2023 an increase of 2.3% month-to-month. Over the period under review, average import prices attained the maximum at $9,317 per ton in June 2022; however, from July 2022 to June 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Argentina ($12,089 per ton), while the price for Ecuador ($7,026 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 Thailand (-0.1%), while the prices for the other major suppliers experienced a decline.
Shrimp Price in the United States (FOB) - 2023
The average shrimp export price stood at $9,784 per ton in June 2023, falling by -4% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 an increase of 18% m-o-m. As a result, the export price reached the peak level of $13,518 per ton. From January 2023 to June 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In June 2023, the country with the highest price was Vietnam ($18,477 per ton), while the average price for exports to Venezuela ($6,435 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 Guatemala (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in the United States
In 2022, purchases abroad of shrimps decreased by -3.6% to 865K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +7.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 20%. As a result, imports attained the peak of 898K tons, and then shrank in the following year.
In value terms, shrimp imports totaled $8.2B in 2022. The total import value increased at an average annual rate of +9.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 24% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Shrimp in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2,461 | 2,357 | 2,990 | 2,881 | 5.4% |
| Indonesia | 1,166 | 1,419 | 1,551 | 1,653 | 12.3% |
| Ecuador | 568 | 788 | 1,368 | 1,574 | 40.5% |
| Vietnam | 655 | 697 | 971 | 866 | 9.8% |
| Thailand | 490 | 465 | 455 | 482 | -0.5% |
| Mexico | 311 | 266 | 242 | 278 | -3.7% |
| Argentina | 149 | 189 | 188 | 210 | 12.1% |
| Others | 393 | 275 | 262 | 218 | -17.8% |
| Total | 6,195 | 6,457 | 8,028 | 8,161 | 9.6% |
Top Suppliers of Shrimp to the United States in 2022:
- India (311.9K tons)
- Ecuador (204.9K tons)
- Indonesia (172.0K tons)
- Vietnam (74.3K tons)
- Thailand (39.9K tons)
- Mexico (20.8K tons)
- Argentina (17.1K tons)
Shrimp Exports in the United States
In 2022, approx. 14K tons of shrimps were exported from the United States; dropping by -25.7% on the previous year. Over the period under review, exports, however, showed strong growth. The pace of growth was the most pronounced in 2021 with an increase of 109%. As a result, the exports attained the peak of 19K tons, and then shrank significantly in the following year.
In value terms, shrimp exports contracted remarkably to $155M in 2022. Overall, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +7.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 69%. As a result, the exports reached the peak of $186M, and then shrank notably in the following year.
| Export of Shrimp in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 20.4 | 20.6 | 29.6 | 30.7 | 14.6% |
| India | 19.7 | 19.4 | 28.9 | 21.0 | 2.2% |
| Denmark | 12.0 | 9.6 | 23.3 | 20.2 | 19.0% |
| Vietnam | 13.8 | 10.2 | 12.1 | 11.6 | -5.6% |
| Indonesia | 6.0 | 4.3 | 3.3 | 7.1 | 5.8% |
| Bahamas | 3.8 | 3.4 | 3.7 | 4.8 | 8.1% |
| China | 7.8 | 6.2 | 5.2 | 3.9 | -20.6% |
| South Korea | 2.1 | 1.4 | 3.2 | 3.7 | 20.8% |
| Mexico | 3.9 | 3.2 | 15.3 | 3.3 | -5.4% |
| Ecuador | 0.4 | 0.1 | 0.5 | 3.2 | 100.0% |
| Bangladesh | 0.2 | 0.1 | 1.2 | 3.0 | 146.6% |
| Guatemala | 0.1 | 0.1 | 0.7 | 2.8 | 203.7% |
| Netherlands | 0.2 | 0.1 | 22.8 | 2.7 | 138.1% |
| Others | 34.5 | 30.8 | 35.9 | 36.9 | 2.3% |
| Total | 125 | 110 | 186 | 155 | 7.4% |
Top Export Markets for Shrimp from the United States in 2022:
- Canada (2941.5 tons)
- Denmark (2692.9 tons)
- India (1124.4 tons)
- Vietnam (669.8 tons)
- Indonesia (562.3 tons)
- South Korea (460.0 tons)
- Guatemala (427.8 tons)
- Ecuador (387.7 tons)
- Bahamas (384.5 tons)
- Mexico (358.1 tons)
- Netherlands (339.2 tons)
- Bangladesh (283.8 tons)
- China (254.3 tons)
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