Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Countries like Saudi Arabia and Argentina saw steep declines of 21% and 50% in value, respectively

China's Shrimp Imports in 2024 Unlikely to Reach Last Year's 1 Million-Ton Milestone

Click on the flag for more information about China CHINA
Friday, October 04, 2024, 00:10 (GMT + 9)

China's shrimp imports in the first eight months of 2024 totaled 610,249 tons, valued at $2.95 billion—representing a 10% drop in volume and a 21% drop in value compared to the same period in 2023, according to China Customs data.

Ecuador, China’s largest shrimp supplier, experienced a 20% decrease in export value to $2.04 billion, though it still supplied nearly 70% of China's total shrimp imports. Ecuador shipped 451,366 tons, marking a 7% year-on-year decrease in volume.

India solidified its position as the second-largest supplier, exporting 94,781 tons of shrimp worth $485 million, with a 9% volume increase despite a 9% drop in average prices, down to $5.12 per kilogram.

Thailand, the third-largest supplier, faced challenges, with shrimp imports falling by 18% in volume and 22% in value. Only 14,331 tons, worth $140 million, were imported into China from Thailand in the first eight months of 2024. Similarly, countries like Saudi Arabia and Argentina saw steep declines of 21% and 50% in value, respectively.

In August 2024 alone, China's shrimp imports declined by 2%, totaling 81,645 tons, with a total value of $397 million. The average price per kilogram also fell by 6% to $4.86.

Projections for the remainder of the year suggest a further decline in China's shrimp imports, which are expected to fall by 11% overall, reaching approximately 933,083 tons—down from over 1 million tons in 2023. This decrease is attributed to an 11% drop in the first half of 2024, driven by China's struggling economy, increased caution from importers, and falling shrimp prices.

Challenges for Ecuadorian Shrimp Suppliers in 2024

Ecuador, a key supplier, faces growing challenges as shrimp import prices in China decline sharply. This has led to financial losses for importers who are forced to sell shrimp at prices lower than their purchasing costs. Additionally, fluctuating shrimp prices and an unstable yuan-US dollar exchange rate have hindered Ecuadorian suppliers' ability to establish strong brands in the Chinese market, affecting their overall competitiveness.

Vietnam’s Shrimp Exports to China Show Promise

In contrast, Vietnam’s shrimp exports to China and Hong Kong have shown positive growth. According to Vietnam Customs, shrimp exports in the first eight months of 2024 totaled $477 million, a 21% increase year-on-year. Despite a brief decline in May, exports rebounded from June onwards, with strong growth in July and August.

Vietnam’s shrimp exports are expected to continue recovering in the final months of 2024, boosted by increased Chinese demand during the National Day holiday in October. Domestic shrimp production in China may also face challenges due to disease outbreaks following recent storms, potentially increasing demand for imports.

[email protected]
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
Argentina
Nov 15, 00:10 (GMT + 9):
Argentine Union Sector Opposes Assistance to Chinese IUU Fishing Fleet
South Korea
Nov 15, 00:10 (GMT + 9):
38% of Korea's fishing vessels over 21 years old
China
Nov 15, 00:10 (GMT + 9):
U.S. FDA Flags Chinese Seafood Facility for Violations in Canned Tuna Processing
Viet Nam
Nov 15, 00:10 (GMT + 9):
Application of Biofloc technology in intensive tilapia farming
Norway
Nov 14, 18:00 (GMT + 9):
Nordic Aqua - Results for the third quarter 2024
Iceland
Nov 14, 11:00 (GMT + 9):
IN BRIEF - LAXEY and Baader sign a contract for salmon processing equipment
Indonesia
Nov 14, 11:00 (GMT + 9):
IN BRIEF - 32nd Annual Meeting of the CCSBT
Norway
Nov 14, 10:00 (GMT + 9):
Fiskebåt Voices Discontent with EU Fisheries Agreement
India
Nov 14, 07:00 (GMT + 9):
New Research Initiative: Transforming Fish Slaughter Practices for a More Humane and Sustainable Aquaculture Industry in India
Viet Nam
Nov 14, 06:30 (GMT + 9):
Impact of Trump’s Re-Election on Vietnam’s Shrimp Exports to the U.S.
Russian Federation
Nov 14, 05:30 (GMT + 9):
Russian fishermen have caught over 4.3 million tons
Israel
Nov 14, 01:00 (GMT + 9):
IN BRIEF - Steakholder Foods® Secures $270,000 in Second SIIRD Grant Installment
Japan
Nov 14, 01:00 (GMT + 9):
IN BRIEF - Ichimasa Kamaboko makes Indonesian affiliate a consolidated subsidiary
Viet Nam
Nov 14, 00:10 (GMT + 9):
Quang Nam Targets End to 'Three No’ Fishing Vessels by November
Israel
Nov 14, 00:10 (GMT + 9):
Israeli Startup Forsea Foods Achieves Breakthrough in Affordable Cultivated Seafood



Lenguaje
FEATURED EVENTS
  
TOP STORIES
FAO GLOBEFISH: International trade of canned and processed fish (HS 1604) in 2019-2023
Worldwide In comparison with fresh and frozen fisheries and aquaculture products, ready-to-eat canned and processed fish are among the most popular product groups worldwide due to their affordability and lo...
MSC: 'Climate change compounding challenge of nations sharing mackerel and herring in North-East Atlantic'
United Kingdom The impacts of climate change on the ocean are compounding the challenge of managing iconic stocks of mackerel and Atlanto-Scandian herring in the North-East Atlantic, risking long-term sustainabi...
Vietnam’s Seafood Exports to the U.S.: Opportunities and Challenges Post-Presidential Election
Viet Nam The United States has consistently been Vietnam's largest seafood export market, with annual export turnover to the U.S. fluctuating between $1.5 billion and $2.1 billion over the past five years. Des...
Possibilities for importing live snow crabs of Norwegian origin
China In a meeting between the Minister for Chinese Customs and Veterinary Authorities Yu Jianhua and the Norwegian Fisheries and Oceans Minister Marianne Sivertsen Næss in Beijing, the import of live...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER