Shrimp Price in Myanmar - 2022
Contents:
- Shrimp Price in Myanmar (FOB) - 2022
- Shrimp Price in Myanmar (CIF) - 2022
- Shrimp Exports in Myanmar
- Shrimp Imports in Myanmar
Shrimp Price in Myanmar (FOB) - 2022
In December 2022, the average shrimp export price amounted to $1,920 per ton, reducing by -12.5% against the previous month. In general, the export price recorded a deep downturn. The growth pace was the most rapid in August 2022 when the average export price increased by 17% m-o-m. Over the period under review, the average export prices reached the peak figure at $5,480 per ton in December 2021; however, from January 2022 to December 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was Hong Kong SAR ($4,547 per ton), while the average price for exports to Vietnam ($420 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-1.1%), while the prices for the other major destinations experienced a decline.
Shrimp Price in Myanmar (CIF) - 2022
The average shrimp import price stood at $4,109 per ton in 2022, rising by 4.2% against the previous year. Overall, the import price, however, recorded a mild contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by 78%. The import price peaked at $8,207 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($9,957 per ton), while the price for Malaysia ($1,824 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.1%), while the prices for the other major suppliers experienced a decline.
Shrimp Exports in Myanmar
In 2022, the amount of shrimps exported from Myanmar soared to 30K tons, growing by 87% against 2021. In general, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, shrimp exports soared to $101M in 2022. Overall, total exports indicated measured growth from 2019 to 2022: its value increased at an average annual rate of +2.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.2% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Shrimp in Myanmar (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 29.3 | 28.4 | 27.3 | 39.0 | 10.0% |
| Japan | 26.3 | 16.4 | 20.3 | 24.8 | -1.9% |
| Thailand | 10.9 | 6.9 | 5.2 | 9.3 | -5.2% |
| Hong Kong SAR | 8.9 | 3.1 | 4.4 | 6.4 | -10.4% |
| Malaysia | 3.3 | 3.4 | 3.8 | 4.6 | 11.7% |
| Australia | 4.6 | 2.7 | 2.6 | 3.9 | -5.4% |
| Singapore | 1.9 | 1.0 | 1.4 | 1.9 | 0.0% |
| South Korea | 1.0 | 1.9 | 1.0 | 1.7 | 19.3% |
| Others | 7.2 | 4.9 | 7.8 | 9.5 | 9.7% |
| Total | 93.4 | 68.8 | 73.8 | 101 | 2.6% |
Top Export Markets for Shrimp from Myanmar in 2022:
- China (18.4K tons)
- Japan (3.8K tons)
- Thailand (2.1K tons)
- Malaysia (1.5K tons)
- Hong Kong SAR (0.8K tons)
- Australia (0.5K tons)
- Singapore (0.5K tons)
- South Korea (0.5K tons)
Shrimp Imports in Myanmar
In 2022, approx. 255 tons of shrimps were imported into Myanmar; approximately reflecting 2021 figures. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +10.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.3% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 68%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.
In value terms, shrimp imports stood at $1M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +10.1% 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 +59.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 53% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Shrimp in Myanmar (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 508 | 324 | 690 | 715 | 12.1% |
| South Korea | 154 | 102 | 80.0 | 149 | -1.1% |
| Malaysia | 32.3 | 32.8 | 42.0 | 48.6 | 14.6% |
| Singapore | 4.8 | 37.0 | 39.4 | 45.5 | 111.6% |
| China | 0.4 | 4.5 | 35.0 | 40.4 | 365.7% |
| India | 51.2 | 12.1 | 26.5 | 30.6 | -15.8% |
| United States | 15.4 | 11.5 | 16.3 | 18.9 | 7.1% |
| Ecuador | N/A | 134 | N/A | N/A | 0% |
| Iran | N/A | N/A | 74.0 | N/A | 0% |
| Others | 19.1 | 0.3 | 0.8 | 0.2 | -78.1% |
| Total | 786 | 658 | 1,004 | 1,048 | 10.1% |
Top Suppliers of Shrimp to Myanmar in 2022:
- Thailand (173.8 tons)
- Malaysia (26.7 tons)
- South Korea (25.9 tons)
- China (13.2 tons)
- India (5.8 tons)
- United States (5.0 tons)
- Singapore (4.6 tons)
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