Shrimp Price in Pakistan - 2023
Contents:
- Shrimp Price in Pakistan (FOB) - 2023
- Shrimp Price in Pakistan (CIF) - 2022
- Shrimp Exports in Pakistan
- Shrimp Imports in Pakistan
Shrimp Price in Pakistan (FOB) - 2023
The average shrimp export price stood at $5,566 per ton in January 2023, waning by -9.4% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2022 an increase of 12% month-to-month. As a result, the export price attained the peak level of $6,291 per ton. From May 2022 to January 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In January 2023, the country with the highest price was Kuwait ($7,662 per ton), while the average price for exports to Vietnam ($3,957 per ton) was amongst the lowest.
From January 2022 to January 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+1.9%), while the prices for the other major destinations experienced a decline.
Shrimp Price in Pakistan (CIF) - 2022
The average shrimp import price stood at $8,499 per ton in 2022, increasing by 32% against the previous year. In general, the import price showed strong growth. The pace of growth was the most pronounced in 2014 an increase of 58% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($14,304 per ton), while the price for Vietnam totaled $8,369 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+24.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Exports in Pakistan
In 2022, the amount of shrimps exported from Pakistan expanded notably to 14K tons, growing by 9.3% against the previous year. The total export volume increased at an average annual rate of +7.7% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, shrimp exports expanded significantly to $82M in 2022. The total export value increased at an average annual rate of +3.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 7.1% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Shrimp in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 24.4 | 16.8 | 26.5 | 27.3 | 3.8% |
| United Arab Emirates | 16.8 | 22.5 | 15.3 | 17.1 | 0.6% |
| Japan | 10.1 | 12.0 | 7.5 | 9.3 | -2.7% |
| Thailand | 7.0 | 4.1 | 3.5 | 4.6 | -13.1% |
| Qatar | 1.3 | 2.5 | 4.5 | 4.4 | 50.1% |
| Saudi Arabia | 0.8 | 2.2 | 5.8 | 4.3 | 75.2% |
| Malaysia | 2.1 | 2.2 | 4.1 | 4.1 | 25.0% |
| Kuwait | 3.3 | 3.1 | 3.2 | 3.2 | -1.0% |
| Belgium | 1.2 | 3.7 | 3.2 | 3.1 | 37.2% |
| Bahrain | 3.5 | 1.6 | 0.6 | 1.9 | -18.4% |
| Others | 2.5 | 1.0 | 2.5 | 2.5 | 0.0% |
| Total | 73.1 | 71.7 | 76.8 | 82.0 | 3.9% |
Top Export Markets for Shrimp from Pakistan in 2022:
- China (5.5K tons)
- United Arab Emirates (2.7K tons)
- Japan (1.5K tons)
- Qatar (1.0K tons)
- Thailand (0.8K tons)
- Malaysia (0.6K tons)
- Belgium (0.6K tons)
- Saudi Arabia (0.5K tons)
- Kuwait (0.5K tons)
- Bahrain (0.3K tons)
Shrimp Imports in Pakistan
In 2022, supplies from abroad of shrimps was finally on the rise to reach 720 tons after two years of decline. In general, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, shrimp imports soared to $6.1M in 2022. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Shrimp in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 34.7 | 1.1 | 0.1 | 5,822 | 451.5% |
| United Arab Emirates | 15.3 | 0.1 | N/A | 247 | 152.7% |
| Others | 1.5 | N/A | N/A | 47.6 | 216.6% |
| Total | 51.5 | 1.2 | 0.1 | 6,116 | 391.5% |
Top Suppliers of Shrimp to Pakistan in 2022:
- Vietnam (695.6 tons)
- United Arab Emirates (17.2 tons)
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