Shrimp Price in Colombia - 2022
Contents:
- Shrimp Price in Colombia (CIF) - 2022
- Shrimp Price in Colombia (FOB) - 2022
- Shrimp Imports in Colombia
- Shrimp Exports in Colombia
Shrimp Price in Colombia (CIF) - 2022
The average shrimp import price stood at $5,432 per ton in February 2022, remaining constant against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2021 an increase of 15% against the previous month. As a result, import price attained the peak level of $6,072 per ton. From November 2021 to February 2022, the average import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In February 2022, the country with the highest price was Venezuela ($6,671 per ton), while the price for Ecuador totaled $5,382 per ton.
From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+44.5%).
Shrimp Price in Colombia (FOB) - 2022
In February 2022, the average shrimp export price amounted to $4,910 per ton, shrinking by -1.7% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in August 2021 when the average export price increased by 16% m-o-m. As a result, the export price reached the peak level of $6,420 per ton. From September 2021 to February 2022, the the average export prices remained at a lower figure.
Average prices varied noticeably for the major foreign markets. In February 2022, the country with the highest price was Spain ($5,176 per ton), while the average price for exports to France stood at $4,592 per ton.
From February 2021 to February 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+0.7%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Colombia
For the fourth consecutive year, Colombia recorded growth in supplies from abroad of shrimps, which increased by 1% to 11K tons in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +14.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.9% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 29%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, shrimp imports stood at $58M in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +12.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Shrimp in Colombia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ecuador | 37.5 | 39.0 | 53.8 | 55.2 | 13.8% |
| Venezuela | 1.5 | 1.0 | 0.6 | 1.1 | -9.8% |
| Others | 1.8 | 2.1 | 2.7 | 1.9 | 1.8% |
| Total | 40.9 | 42.1 | 57.2 | 58.2 | 12.5% |
Top Suppliers of Shrimp to Colombia in 2022:
- Ecuador (10.8K tons)
- Venezuela (0.2K tons)
Shrimp Exports in Colombia
In 2022, approx. 4.2K tons of shrimps were exported from Colombia; picking up by 29% against the previous year. In general, exports, however, saw a perceptible contraction.
In value terms, shrimp exports soared to $22M in 2022. Overall, exports, however, saw a abrupt descent.
| Export of Shrimp in Colombia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 9.4 | 10.8 | 6.0 | 8.6 | -2.9% |
| Spain | 12.6 | 5.3 | 6.2 | 8.0 | -14.1% |
| South Korea | 2.7 | 4.5 | 3.6 | 4.3 | 16.8% |
| United States | 1.4 | 1.1 | 0.4 | 0.9 | -13.7% |
| Italy | 0.2 | 0.6 | 0.4 | 0.5 | 35.7% |
| Others | 0.3 | 0.6 | 0.4 | N/A | 15.5% |
| Total | 26.7 | 22.9 | 17.0 | 22.4 | -5.7% |
Top Export Markets for Shrimp from Colombia in 2022:
- France (1706.4 tons)
- Spain (1458.2 tons)
- South Korea (828.7 tons)
- Italy (109.1 tons)
- United States (64.0 tons)
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