echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Food News > Food Articles > The fall in the RMB exchange rate may affect Ecuadorian shrimp prices, and exporters are worried about market uncertainty

    The fall in the RMB exchange rate may affect Ecuadorian shrimp prices, and exporters are worried about market uncertainty

    • Last Update: 2022-10-19
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com
    Sources said that in recent weeks, Chinese importers have made a round of active purchases of Ecuadorian white shrimp, allowing exporters to see the return
    of market heat.
     
    "Prices remained relatively stable ahead of Christmas and Chinese New Year, with Chinese importers seeing weakness
    in EU and US demand.
    But since this week, prices for all specifications, including HOSO and HLSO, have begun to fall, mainly slowing
    in purchases in the United States and the European Union.
    An Ecuadorian producer (source A) said
    .
     
    Week 41 (October 10-16), 20/30 size HOSO white shrimp pond price is $5.
    40/kg, 30/40 is $4.
    70/kg, 40/50 is $4.
    20/kg, 50/60 is $3.
    80/kg, 60/70 is $3.
    40/kg, 70/80 is $2.
    80/kg, 80/100 is $2.
    60/kg, 100/120 is $2.
    00/kg, 120/140 is $1.
    90/ kg
    。 The weekly decline of medium and large sizes was $0.
    10/kg-$0.
    20/kg, and the small sizes were stable
    .
     
    Two weeks ago, the renminbi fell sharply, hitting a new low in nearly 10 years, and Ecuadorian exporters expressed doubts
    about China's future demand.
    Sources B said, "55%-65% of the shrimp are exported directly to China, which is still our largest market
    despite the obstacles of the epidemic.
    We are concerned that
    the renminbi dollar exchange rate has fallen to its 2008 level, which may affect Ecuadorian shrimp prices.
     
    The Vietnam Seafood Export and Production Association (VASEP) expects that the strength of the US dollar, combined with the decline in aquaculture production in southern China, will push up the price of imported shrimp, and the advantage of shelled shrimp is growing
    .
     
    Sources A said that the impact of China's epidemic prevention restrictions on Ecuador's exports this year is even higher than in the past two years, which has always been a concern for Ecuadorian companies, and uncertainty remains
    .
     
    According to the Aquaculture Chamber of Commerce of Ecuador (CNA), China's imports were weak at the beginning of the year, with imports rising
    rapidly in the summer months.
    After the Mid-Autumn Festival procurement season, demand slowed down
    .
    In August this year, China imported 95,000 tons of frozen warm water shrimp, an increase of 89% year-on-year, with an import value of 624 million US dollars
    .
    Ecuador exported 51,000 white shrimp to China in August, down
    from 55,000 tonnes in July.
    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.