Shrimp Price in Estonia - 2023
Contents:
- Shrimp Price in Estonia (FOB) - 2023
- Shrimp Price in Estonia (CIF) - 2023
- Shrimp Exports in Estonia
- Shrimp Imports in Estonia
Shrimp Price in Estonia (FOB) - 2023
In September 2023, the average shrimp export price amounted to $5,772 per ton, shrinking by -30.8% against the previous month. In general, the export price saw a noticeable reduction. The most prominent rate of growth was recorded in July 2023 an increase of 43% month-to-month. Over the period under review, the average export prices reached the maximum at $8,556 per ton in December 2022; however, from January 2023 to September 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In September 2023, the country with the highest price was Sweden ($7,462 per ton), while the average price for exports to Iceland ($2,088 per ton) was amongst the lowest.
From November 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.
Shrimp Price in Estonia (CIF) - 2023
The average shrimp import price stood at $6,052 per ton in September 2023, declining by -24.1% against the previous month. Overall, the import price showed a mild downturn. The pace of growth appeared the most rapid in May 2023 when the average import price increased by 22% month-to-month. Over the period under review, average import prices attained the peak figure at $9,198 per ton in January 2023; however, from February 2023 to September 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Latvia ($10,748 per ton), while the price for Ecuador ($4,572 per ton) was amongst the lowest.
From November 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Albania (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Exports in Estonia
Shrimp exports from Estonia rose modestly to 12K tons in 2022, picking up by 4% against the previous year. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 20%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.
In value terms, shrimp exports expanded markedly to $62M in 2022. The total export value increased at an average annual rate of +4.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 23%. The exports peaked in 2022 and are likely to continue growth in the near future.
| Export of Shrimp in Estonia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 18.3 | 20.9 | 23.4 | 19.6 | 2.3% |
| China | 3.6 | 6.4 | 6.2 | 17.3 | 68.8% |
| Iceland | 15.3 | 6.9 | 9.8 | 10.1 | -12.9% |
| Norway | 3.8 | 3.5 | 3.9 | 3.6 | -1.8% |
| Denmark | 9.1 | 1.5 | 4.7 | 2.3 | -36.8% |
| Ukraine | 0.6 | 0.8 | 0.3 | 1.4 | 32.6% |
| Japan | N/A | 0.1 | 1.6 | 1.1 | 231.7% |
| Others | 3.4 | 4.2 | 4.4 | 6.5 | 24.1% |
| Total | 54.0 | 44.4 | 54.4 | 62.1 | 4.8% |
Top Export Markets for Shrimp from Estonia in 2022:
- Iceland (3.9K tons)
- China (2.9K tons)
- Sweden (2.3K tons)
- Denmark (0.6K tons)
- Ukraine (0.3K tons)
- Norway (0.3K tons)
- Japan (0.2K tons)
Shrimp Imports in Estonia
In 2022, approx. 3.2K tons of shrimps were imported into Estonia; picking up by 39% compared with 2021. Overall, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +21.1% 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 +77.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, shrimp imports surged to $27M in 2022. The total import value increased at an average annual rate of +12.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 17%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.
| Import of Shrimp in Estonia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Albania | 11.5 | 11.8 | 12.3 | 10.2 | -3.9% |
| Denmark | 0.6 | 1.8 | 2.1 | 5.8 | 113.0% |
| Netherlands | 0.2 | 1.2 | 1.7 | 2.3 | 125.7% |
| Lithuania | N/A | 1.6 | 2.1 | 2.0 | 11.8% |
| Latvia | 0.1 | 1.0 | 1.3 | 1.5 | 146.6% |
| Belgium | 0.2 | 0.8 | 0.8 | 1.0 | 71.0% |
| Canada | 1.4 | 0.8 | 1.6 | 0.7 | -20.6% |
| Vietnam | 1.2 | N/A | 0.2 | 0.5 | -25.3% |
| Greenland | 0.8 | N/A | N/A | N/A | 0% |
| Others | 3.2 | 0.8 | 1.1 | 2.9 | -3.2% |
| Total | 19.2 | 19.8 | 23.3 | 27.1 | 12.2% |
Top Suppliers of Shrimp to Estonia in 2022:
- Denmark (1158.0 tons)
- Albania (718.5 tons)
- Netherlands (251.2 tons)
- Lithuania (241.4 tons)
- Canada (168.7 tons)
- Latvia (147.8 tons)
- Belgium (107.5 tons)
- Vietnam (48.8 tons)
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