Shrimp Price in Hong Kong SAR - 2023
Contents:
- Shrimp Price in Hong Kong SAR (CIF) - 2023
- Shrimp Price in Hong Kong SAR (FOB) - 2023
- Shrimp Imports in Hong Kong SAR
- Shrimp Exports in Hong Kong SAR
Shrimp Price in Hong Kong SAR (CIF) - 2023
In May 2023, the average shrimp import price amounted to $8,737 per ton, approximately mirroring the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 an increase of 8.4% m-o-m. The import price peaked at $9,472 per ton in December 2022; however, from January 2023 to May 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Indonesia ($11,303 per ton), while the price for Ecuador ($6,925 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 Ecuador (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Hong Kong SAR (FOB) - 2023
In May 2023, the average shrimp export price amounted to $10,442 per ton, standing approximately at the previous month. Over the period under review, export price indicated a moderate increase from May 2022 to May 2023: its price increased at an average monthly rate of +2.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on May 2023 figures, shrimp export price increased by +16.1% against March 2023 indices. The pace of growth was the most pronounced in July 2022 an increase of 45% m-o-m. As a result, the export price attained the peak level of $11,360 per ton. From August 2022 to May 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($32,210 per ton), while the average price for exports to Guam ($8,101 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+115.3%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Hong Kong SAR
Shrimp imports into Hong Kong SAR amounted to 50K tons in 2022, almost unchanged from the previous year. The total import volume increased at an average annual rate of +2.8% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.
In value terms, shrimp imports stood at $438M in 2022. The total import value increased at an average annual rate of +1.5% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 17% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.
| Import of Shrimp in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 201 | 207 | 237 | 235 | 5.3% |
| Vietnam | 89.9 | 65.9 | 80.7 | 80.0 | -3.8% |
| Thailand | 48.2 | 27.0 | 32.6 | 35.1 | -10.0% |
| Australia | 8.5 | 17.3 | 18.4 | 18.3 | 29.1% |
| India | 12.5 | 9.9 | 16.1 | 15.9 | 8.4% |
| Indonesia | 9.1 | 7.6 | 9.0 | 9.0 | -0.4% |
| Myanmar | 11.0 | 4.7 | 5.1 | 6.7 | -15.2% |
| Malaysia | 9.8 | 4.0 | 5.8 | 6.3 | -13.7% |
| Others | 28.3 | 27.3 | 30.4 | 31.7 | 3.9% |
| Total | 418 | 371 | 435 | 438 | 1.6% |
Top Suppliers of Shrimp to Hong Kong SAR in 2022:
- China (26.8K tons)
- Vietnam (10.2K tons)
- Thailand (4.5K tons)
- India (2.0K tons)
- Australia (1.1K tons)
- Myanmar (0.9K tons)
- Indonesia (0.9K tons)
- Malaysia (0.7K tons)
Shrimp Exports in Hong Kong SAR
In 2022, overseas shipments of shrimps were finally on the rise to reach 3.4K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a deep reduction.
In value terms, shrimp exports skyrocketed to $29M in 2022. In general, exports, however, recorded a abrupt slump.
| Export of Shrimp in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 20.3 | 11.7 | 13.6 | 15.1 | -9.4% |
| China | 5.9 | 4.7 | 3.0 | 4.5 | -8.6% |
| Vietnam | 2.2 | 0.6 | 2.3 | 2.5 | 4.4% |
| Taiwan (Chinese) | 3.1 | 0.8 | 1.2 | 1.7 | -18.1% |
| United States | 1.4 | 1.2 | 1.6 | 1.7 | 6.7% |
| Canada | 2.3 | 1.1 | 1.1 | 1.5 | -13.3% |
| Guam | 1.3 | 0.6 | 1.2 | 1.3 | 0.0% |
| Others | 0.8 | 1.0 | 0.5 | 0.8 | 0.0% |
| Total | 37.2 | 21.8 | 24.6 | 29.0 | -8.0% |
Top Export Markets for Shrimp from Hong Kong SAR in 2022:
- Macao SAR (1303.8 tons)
- Vietnam (854.9 tons)
- China (523.7 tons)
- Taiwan (Chinese) (286.3 tons)
- Canada (133.2 tons)
- Guam (126.5 tons)
- United States (108.5 tons)
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