India selling more shrimp to US at Indonesia’s expense
US shrimp imports rose 15.6% in June year-on-year with major increases coming from India and China as imports from Indonesia, Ecuador, Thailand and Vietnam slid, recently released statistics show.
The US imported 53,394 metric tons of shrimp in June 2017, compared to 46,187t, a year earlier, according to data from the National Oceanic and Atmospheric Administration (NOAA). By value, June 2017 imports totaled $513.5m, a 22.5% rise over the $419.3m seen in June 2016.
For the first six months of 2017, imports -- which include all shrimp species and product forms and include value-added products like breaded shrimp -- totaled 286,769t worth $2.75 billion. That marks a 8.5% increase by volume and a 14.6% rise in value over the same period in 2016.
Prices are rising too. In June 2017, the average price of shrimp imports was $9.61 per kilogram. In June 2016 that same kilo only cost $9.06.
Exporters relative share of the market has shifted. By volume, seven countries made up over 90% of US shrimp imports during the first six months of 2017.
These are India (30%), Indonesia (20%), Ecuador (13%), Thailand (10%), Vietnam (8%), China (7%) and Mexico (3%).
During the first six months of 2016, Indonesia had the largest market share (22%), followed by India (20%), Ecuador (14%), Thailand (13%), Vietnam (10%), China (6%) and Mexico (4%).
This comes as Indian farmers are seeing farmgate prices so low that some are struggling to break even.
Source: Undercurrent News. Date: 2017-08-16