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China limited US growth, export of Ecuadorian white shrimp to the US doubled and prices increased

 Last Update: 2021-09-10
 Source: Internet
 Author: User

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Although India is still the largest shrimp supplier to the United States by June 2021, Ecuador has risen to second place in supplying shrimp to the United States and tends to compete fiercely with India in this market
.

Since the beginning of this year, the United States has become a hot spot for Ecuadorian white shrimp.
Whether it is shelled shrimp or shelled and de-threaded products, the demand in the United States has driven the overall price increase
.
Compared with China, the United States has a short transportation cycle
.
The shipping time from South America to U.
S.
ports is only 14 days, and the logistics problems in the Americas are not as severe as those in Asian countries
.

Before the epidemic, 25% of U.
S.
imported shrimp entered the retail channel, and catering, tourism and hotel demand accounted for 75%
.
The annual demand growth rate in the US market is about 6%, and the catering growth rate is about 8%, but after the epidemic, it has shrunk by 20%, and the retail industry has become the savior of the shrimp industry
.
"

"In 2021, shrimp is the category with a larger price increase in seafood.
Under the background of the US economic stimulus policy, many people have spare money on hand and start to buy more high-value seafood.
Shrimp just lacks substitutes, so Prices have risen sharply
.
" "In 2019, the U.
S.
retail industry demand was approximately 415 million pounds, and in 2020 it will increase to 532 million pounds, and the proportion of retail demand will increase from 25% to 32%
.
"

　　In the first half of this year, the export volume of Ecuadorian white shrimp to the United States doubled year-on-year.
It is worth mentioning that many products were still transferred from China
.

　　In June 2021, Ecuador exported 22,550 tons of shrimp to the United States, worth US$161.
7 million, higher than Indonesia (the second largest shrimp supplier to the United States after India)
.

　　In June 2021, Ecuador’s total shrimp exports reached 70,000 tons, valued at US$415 million, a year-on-year increase of 25% and a value increase of 42%
.

　　In June 2021, the average price of Ecuadorian shrimp imported to the United States reached 7.
17 US dollars/kg, a 19% increase from June 2020
.
So far, Ecuador has been one of the lowest-priced white shrimp suppliers in the United States, but now prices have increased even more
.

　　Ecuador has repeatedly become the second largest shrimp supplier to the United States in April 2021 and August 2020
.
However, in the first six months of this year, Ecuador became the second largest supplier of shrimp to the United States with 90,289 tons of shrimp, valued at 609.
5 million US dollars, an increase of 86% and 107% year-on-year
.
.

　　With the increase in production and export volume, Ecuadorian shrimp exporters are also increasing their market share in the US market from at least July 2020.
At that time, China stopped some large shrimp exporters from Ecuador due to concerns about the situation.
Of shrimp imports
.

　　Overall, US shrimp import demand will remain stable in 2021.
The country imported 76,474 tons of shrimp in June 2021, valued at $643.
4 million.
Compared with June 2020, the volume increased by 50% and the value increased by 52%
.
The average import price reached 8.
41 US dollars/kg, up 2% from June 2020 (8.
28 US dollars/kg) but 1% lower than May 2021 (8.
46 US dollars/kg)
.

　　As of June this year, the United States imported 403,668 tons of shrimp, valued at US$3.
4 billion, a year-on-year increase of 31% and a value of 30%
.
June 2021 is the seventh consecutive month of increase in U.
S.
shrimp imports
.

　　In June 2021, India accounted for 33% of total U.
S.
shrimp imports
.
The country exported 25,509 tons of shrimp to the United States worth US$210.
8 million.
Compared with June 2020, the volume has increased by 116% and the value has increased by 105%
.
In the first four months of this year, due to the impact of the new crown pneumonia epidemic, shrimp exports to the United States continued to decline.
Since May this year, India's shrimp exports to the United States have rebounded
.

　　India is the third country in the death toll from the new crown after the United States and Brazil, with a total of 400,000 cases
.
Despite the difficulties, India still exported 143,143 tons of shrimp to the United States in the first half of this year, valued at US$1.
2 billion, a year-on-year increase of 28% and a value increase of 27%
.
In June 2021, the average price of Indian shrimp exports to the United States reached US$8.
26/kg, a decrease of 5% from June 2020
.

　　In June 2021, Indonesia exported 13,602 tons of shrimp to the U.
S.
, valued at US$118.
5 million, a slight decrease year-on-year
.
The average export price reached US$8.
71/kg, an increase of 5% over the same period in 2020
.
In the first six months of this year, the country exported 88,883 tons of shrimp worth US$666.
2 million to the United States, an increase of 15%
.
Value increased by 16% over the same period last year
.

　　Although total U.
S.
shrimp imports increased in June 2021, shrimp imports from China, Mexico, and Thailand to the U.
S.
decreased in June
.

America

price

　　In the first half of this year, the export volume of Ecuadorian white shrimp to the United States doubled year-on-year.
It is worth mentioning that many products were still transferred from China
.

　　In June 2021, Ecuador exported 22,550 tons of shrimp to the United States, worth US$161.
7 million, higher than Indonesia (the second largest shrimp supplier to the United States after India)
.

　　In June 2021, Ecuador’s total shrimp exports reached 70,000 tons, valued at US$415 million, a year-on-year increase of 25% and a value increase of 42%
.

　　Although total U.
S.
shrimp imports increased in June 2021, shrimp imports from China, Mexico, and Thailand to the U.
S.
decreased in June
.

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