Shrimp Price in Australia - 2023
Contents:
- Shrimp Price in Australia (CIF) - 2023
- Shrimp Price in Australia (FOB) - 2022
- Shrimp Imports in Australia
- Shrimp Exports in Australia
Shrimp Price in Australia (CIF) - 2023
The average shrimp import price stood at $10,582 per ton in June 2023, shrinking by -2.4% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 an increase of 8.6% month-to-month. As a result, import price reached the peak level of $11,280 per ton. From December 2022 to June 2023, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In June 2023, the highest price was recorded for prices from Vietnam ($10,762 per ton) and Peru ($10,663 per ton), while the price for Malaysia ($9,253 per ton) and China ($9,893 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Thailand (+0.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Australia (FOB) - 2022
In 2022, the average shrimp export price amounted to $12,047 per ton, which is down by -14.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 35%. As a result, the export price attained the peak level of $14,200 per ton. From 2019 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($17,045 per ton), while the average price for exports to Thailand ($6,172 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Australia
In 2022, the amount of shrimps imported into Australia totaled 31K tons, approximately reflecting 2021 figures. The total import volume increased at an average annual rate of +3.1% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 8.9% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, shrimp imports totaled $319M in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 13% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
| Import of Shrimp in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 128 | 144 | 195 | 186 | 13.3% |
| Thailand | 65.4 | 59.7 | 58.9 | 57.7 | -4.1% |
| China | 64.5 | 45.0 | 32.5 | 44.5 | -11.6% |
| Malaysia | 23.9 | 12.2 | 15.6 | 16.2 | -12.2% |
| Others | 8.0 | 17.9 | 14.1 | 14.5 | 21.9% |
| Total | 290 | 279 | 316 | 319 | 3.2% |
Top Suppliers of Shrimp to Australia in 2022:
- Vietnam (17.1K tons)
- Thailand (6.1K tons)
- China (4.5K tons)
- Malaysia (1.5K tons)
Shrimp Exports in Australia
In 2022, overseas shipments of shrimps were finally on the rise to reach 4.5K tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a abrupt downturn.
In value terms, shrimp exports soared to $54M in 2022. Over the period under review, exports, however, showed a abrupt downturn.
| Export of Shrimp in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 10.6 | 17.3 | 10.1 | 12.6 | 5.9% |
| Japan | 15.0 | 11.1 | 7.8 | 11.2 | -9.3% |
| China | 27.5 | 2.7 | 2.4 | 10.8 | -26.8% |
| Vietnam | 6.2 | 10.0 | 6.1 | 7.4 | 6.1% |
| Thailand | 2.8 | 2.1 | 2.3 | 2.4 | -5.0% |
| New Zealand | 1.7 | 0.8 | 1.9 | 1.9 | 3.8% |
| Malaysia | 3.1 | 0.4 | 0.8 | 1.4 | -23.3% |
| Others | 6.8 | 6.9 | 5.3 | 6.7 | -0.5% |
| Total | 73.8 | 51.1 | 36.7 | 54.4 | -9.7% |
Top Export Markets for Shrimp from Australia in 2022:
- China (976.9 tons)
- Hong Kong SAR (944.9 tons)
- Vietnam (795.3 tons)
- Japan (658.8 tons)
- Thailand (389.8 tons)
- New Zealand (208.3 tons)
- Malaysia (139.7 tons)
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