Shrimp Price in New Zealand - 2023
Contents:
- Shrimp Price in New Zealand (CIF) - 2023
- Shrimp Price in New Zealand (FOB) - 2023
- Shrimp Imports in New Zealand
- Shrimp Exports in New Zealand
Shrimp Price in New Zealand (CIF) - 2023
The average shrimp import price stood at $8,419 per ton in June 2023, remaining constant against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in July 2022 when the average import price increased by 8.8% month-to-month. The import price peaked at $9,542 per ton in December 2022; however, from January 2023 to June 2023, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In June 2023, the countries with the highest prices were Thailand ($10,246 per ton) and China ($9,288 per ton), while the price for India ($7,584 per ton) and Malaysia ($7,745 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Shrimp Price in New Zealand (FOB) - 2023
In June 2023, the average shrimp export price amounted to $29,833 per ton, declining by -12.2% against the previous month. In general, the export price saw a noticeable descent. The most prominent rate of growth was recorded in April 2023 an increase of 247% month-to-month. Over the period under review, the average export prices hit record highs at $49,591 per ton in June 2022; however, from July 2022 to June 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was China ($62,738 per ton), while the average price for exports to Fiji ($7,878 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+33.4%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in New Zealand
In 2022, approx. 6.5K tons of shrimps were imported into New Zealand; stabilizing at the previous year. The total import volume increased at an average annual rate of +2.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 12% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, shrimp imports stood at $57M in 2022. The total import value increased at an average annual rate of +3.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 17%. Imports peaked in 2022 and are likely to continue growth in the near future.
| Import of Shrimp in New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 15.0 | 11.7 | 15.0 | 14.7 | -0.7% |
| China | 15.3 | 13.3 | 11.8 | 13.1 | -5.0% |
| India | 5.5 | 8.7 | 10.7 | 10.5 | 24.1% |
| Thailand | 9.0 | 9.1 | 9.3 | 9.1 | 0.4% |
| Ecuador | 0.5 | 1.1 | 3.2 | 3.1 | 83.7% |
| Australia | 2.4 | 1.3 | 2.0 | 2.0 | -5.9% |
| Malaysia | 1.1 | 1.6 | 2.1 | 2.0 | 22.1% |
| Argentina | 1.5 | 0.2 | 0.6 | 0.7 | -22.4% |
| Others | 1.5 | 1.3 | 1.8 | 1.5 | 0.0% |
| Total | 51.8 | 48.2 | 56.4 | 56.8 | 3.1% |
Top Suppliers of Shrimp to New Zealand in 2022:
- Vietnam (1670.6 tons)
- China (1586.8 tons)
- India (1275.9 tons)
- Thailand (834.3 tons)
- Ecuador (479.3 tons)
- Malaysia (244.2 tons)
- Australia (130.9 tons)
- Argentina (96.5 tons)
Shrimp Exports in New Zealand
In 2022, the amount of shrimps exported from New Zealand fell to 1.2K tons, which is down by -4.7% on 2021 figures. In general, exports, however, posted a significant expansion. The growth pace was the most rapid in 2021 with an increase of 230%. As a result, the exports attained the peak of 1.3K tons, and then declined modestly in the following year.
In value terms, shrimp exports reached $45M in 2022. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 320%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.
| Export of Shrimp in New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.0 | 5.5 | 30.0 | 30.3 | 71.6% |
| United States | 3.4 | 1.8 | 5.3 | 5.4 | 16.7% |
| Australia | 1.7 | 1.5 | 3.0 | 3.0 | 20.8% |
| Japan | 1.5 | 0.5 | 1.9 | 1.9 | 8.2% |
| Hong Kong SAR | 0.3 | 0.1 | 1.8 | 1.8 | 81.7% |
| Tonga | 0.2 | 0.1 | 0.5 | 0.5 | 35.7% |
| Samoa | 0.2 | 0.2 | 0.5 | 0.5 | 35.7% |
| Cook Islands | 0.4 | 0.1 | 0.2 | 0.2 | -20.6% |
| Vietnam | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Others | 1.2 | 0.7 | 1.5 | 1.2 | 0.0% |
| Total | 15.0 | 10.7 | 44.8 | 45.1 | 44.3% |
Top Export Markets for Shrimp from New Zealand in 2022:
- China (606.4 tons)
- United States (145.0 tons)
- Australia (87.8 tons)
- Hong Kong SAR (85.6 tons)
- Japan (55.3 tons)
- Tonga (47.7 tons)
- Samoa (42.2 tons)
- Vietnam (19.8 tons)
- Cook Islands (19.7 tons)
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