Shrimp Price in Egypt - 2023
Contents:
- Shrimp Price in Egypt (CIF) - 2023
- Shrimp Price in Egypt (FOB) - 2022
- Shrimp Imports in Egypt
- Shrimp Exports in Egypt
Shrimp Price in Egypt (CIF) - 2023
The average shrimp import price stood at $9,297 per ton in May 2023, dropping by -1.7% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 an increase of 4.3% against the previous month. The import price peaked at $9,545 per ton in December 2022; however, from January 2023 to May 2023, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In May 2023, the country with the highest price was Yemen ($9,544 per ton), while the price for Oman ($7,501 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Egypt (FOB) - 2022
In 2022, the average shrimp export price amounted to $7,048 per ton, remaining constant against the previous year. Over the period under review, the export price continues to indicate a mild descent. The pace of growth was the most pronounced in 2020 when the average export price increased by 230% against the previous year. As a result, the export price attained the peak level of $8,329 per ton. From 2021 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Morocco ($12,929 per ton), while the average price for exports to the United Arab Emirates ($5,255 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 the United States (+47.8%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Egypt
In 2022, overseas purchases of shrimps were finally on the rise to reach 43K tons after two years of decline. Over the period under review, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, shrimp imports surged to $292M in 2022. Overall, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Shrimp in Egypt (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 140 | 125 | 113 | 253 | 21.8% |
| Saudi Arabia | 18.9 | 20.2 | 11.1 | 25.7 | 10.8% |
| Yemen | 3.3 | 4.5 | 2.8 | 6.3 | 24.1% |
| Others | 5.3 | 3.3 | 15.4 | 6.7 | 8.1% |
| Total | 167 | 153 | 142 | 292 | 20.5% |
Top Suppliers of Shrimp to Egypt in 2022:
- United Arab Emirates (38.9K tons)
- Saudi Arabia (2.6K tons)
- Yemen (0.6K tons)
Shrimp Exports in Egypt
In 2022, approx. 836 tons of shrimps were exported from Egypt; surging by 41% compared with 2021 figures. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 65% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, shrimp exports skyrocketed to $5.9M in 2022. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 149% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Shrimp in Egypt (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 471 | 168 | 1,449 | 3,553 | 96.1% |
| Sweden | 580 | 550 | 791 | 1,940 | 49.6% |
| Morocco | 44.0 | 138 | 111 | 272 | 83.5% |
| United Arab Emirates | 99.1 | 52.2 | 0.9 | 130 | 9.5% |
| United States | N/A | 2,080 | 605 | N/A | -70.9% |
| Tunisia | N/A | N/A | 984 | N/A | 0% |
| Others | 7.0 | 2.7 | 263 | N/A | 513.0% |
| Total | 1,201 | 2,992 | 4,205 | 5,895 | 69.9% |
Top Export Markets for Shrimp from Egypt in 2022:
- Italy (571.0 tons)
- Sweden (219.7 tons)
- United Arab Emirates (24.8 tons)
- Morocco (21.0 tons)
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