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Image: Revista Puerto / FIS

Whole shrimp, the biggest drop in October exports

Click on the flag for more information about Argentina ARGENTINA
Friday, November 24, 2023, 01:00 (GMT + 9)

The CAPECA report shows a drop in fishing sales abroad of 2%, but the figure that impacts is that of shrimp frozen on board, whose revenue fell by 20% as a result of the sustained drop in price. The best numbers are those of crab.

Source: CAPECA

Fishing exports fell by 2% but sales of one of its main products, shrimp frozen on board, decreased in foreign currency by 20% as a result of the constant fall in price. The other side in terms of demand is offered by shrimp tails, which increased exports by 24%, but unfortunately the price has been falling for months, registering an increase in only one month of the year. The hubbsi hake, with the stability conferred by the quota, has not had major variations and the small margin has always been positive throughout the year for the filet, despite the drop in sales in markets as important as Brazil; Frozen hake products experience a different situation. Squid suffered a decline but in light of the lower catches in 2023, the drop is insignificant. The demand for toothfish increased although its price fell a little and in the case of crab all the indices are positive.

The product with the highest export volume has been squid, but in foreign currency the shrimp tails. In total, 389,682 tons have been exported for a final value of 1,536 million dollars. The Asian continent has been the main export destination followed by Europe.


Source: Stockfile FIS

In volume, hake filet exports had an increase of 1.2% with an increase in the average price of 1.4%, reaching $3,222 per ton. In total, 50,717 tons were sold for 163 million dollars.

With a difference of one thousand tons, this year Spain surpassed Brazil in volume demanded, given that the Iberian country required 57% more than last year, at the same time that what was the main fillet market, reduced its purchases by one 18%. However, the collection of foreign currency continues to place the South American country as the most important, given that it paid above the average price, at a rate of 3,263 dollars per ton, while the Spanish paid 3,067 dollars per ton.

Source: Revista Puerto

One of the best prices was paid by the United States, at a rate of $3,534 per ton; but the purchase volume is a third of what is demanded by the two main markets and in addition the purchase of 4,586 tons represents a drop of 13% in relation to the volume required in 2022. Only Israel exceeds that market value, but has demanded less of a thousand tons. When analyzing demand by continent, Europe becomes the main buyer followed by America.

For frozen hake on board in products other than filet the accounts are not good; Exports have fallen by 7% but at least the price has remained practically stable, in the order of 1,544 dollars on average. Its main buyer, Russia, slightly decreased demand and the other countries that appear as main buyers have remained stable or even increased, but there are a series of destinations that are not individualized that seem to have eliminated this product from their purchases, given It is in this sector where the greatest reduction in required volume occurred, with a drop of 54.7%, which has generated the general decline in exports of this product.


Source: CAPECA

The sales volume of whole shrimp has not decreased alarmingly, a 4% drop is nothing to be shocked about, but it should be taken into account that it comes from years of reduced demand. In addition, to this must be added a sustained drop in the price, which this year has collapsed by 16% and at this point it must also be considered that the price has been falling since 2019. The 67 thousand tons of frozen shrimp on board have been sold at a value of $5,544 per ton. Perhaps one of the lowest prices ever seen.

The main buyer continues to be Spain, which not only sets the price lower, paying $5,362 per ton, but has also required 17% less than last year, purchasing just over 30 thousand tons. China, which has been appearing again in the frozen shrimp market, this year has required 18% more than in 2022 and for the 11 thousand tons demanded it has paid $5,567 per ton, a value that is 14% below that paid last year.

Source: Stockfile FIS-->

Another market that has bought again is the Italian market, requiring almost double that of last year when it had demanded just over 5 thousand tons; Of course, although it paid better than Spain and China, the price was below the 2022 average. The other important market, Japan, on the other hand, has not only paid less than last year but has required almost 21% less.

For shrimp tails the situation is diametrically opposite depending on the volume, but is similar in the downward trend in price; Although it increased in the month of August, the price has fallen throughout the year. Demand increased 29.4% and now the value fell 4% compared to the same period last year. For the 56,813 tons sold, an average price of $7,696 was paid for each one.

Source: CAPECA

With an increase in demand of 99% and 15 thousand tons, China became the main importer, but with the lowest price in the market and even significantly lower than the average price, at a rate of 7,021 dollars per ton. With 10 thousand tons, Spain occupies the second most important market by volume, but the price it has paid is much higher, at a rate of 8,153 dollars per ton.

Peru is the third importing market with just over 7 thousand tons and a value similar to what China has paid. At the other extreme is the United States, which due to requiring a product with greater added value has paid 11,166 dollars for each of the almost 4 thousand tons that have been sold, but unfortunately in this market demand fell 13% compared to the last year. Taking into account all the countries to which shrimp tails have been sold, the Asian continent appears as the main buyer.


Source: CAPECA

At this point in the year there is no news to report on this product, given that almost everything caught has been sold for at least two months. The 133 thousand tons exported represent a 6.7% drop in volume, which is not related to a drop in demand but to a season of low catches. The price, on the other hand, increased by 4.6%, with a ton trading at $2,248; This price increase did not compensate for the decrease in catches but it helped reduce the impact.

The main market for illex has been South Korea, which took more than 33 thousand tons but paid the lowest price in the market, at $2,057 per ton. In second place is China, which bought about 8 tons less but paid $220 more per ton. Thailand paid an even better price, $2,335 per ton and ranked third among the main markets with almost 17 thousand tons demanded. The Asian continent is, without a doubt, the illex market.

Toothfish and crab

Source: Stockfile FIS

This year, 25.5% more toothfish has been exported than in 2022, reaching 1,603 tons; The price is at $25,840 per ton and this represents a drop of 1.4% compared to the same period last year. As for the markets, 66% is destined for the United States, which increased its demand in equal proportion this year, and the rest enters countries not identified by official statistics.

For the crab it is all good news. 1,079 tons have been exported, representing an increase in sales of 47.9% and a price of $21,109 per ton, which is equivalent to an increase in the average price of 13.8% compared to 2022. The only market for this product It is the United States and apparently the demand is active, because the crab sector has asked the Federal Fisheries Council to increase the capture possibilities.

Source: Revista Puerto (Translated from the original in Spanish)

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