Shrimp Price in Saudi Arabia - 2021
Contents:
- Shrimp Price in Saudi Arabia (FOB) - 2022
- Shrimp Price in Saudi Arabia (CIF) - 2022
- Shrimp Exports in Saudi Arabia
- Shrimp Imports in Saudi Arabia
Shrimp Price in Saudi Arabia (FOB) - 2022
In 2022, the average shrimp export price amounted to $5,685 per ton, growing by 6.5% against the previous year. In general, the export price, however, saw a noticeable decline. The pace of growth was the most pronounced in 2020 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices reached the peak figure at $7,713 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($7,478 per ton), while the average price for exports to Bahrain ($1,694 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+21.8%), while the prices for the other major destinations experienced mixed trend patterns.
Shrimp Price in Saudi Arabia (CIF) - 2022
In 2022, the average shrimp import price amounted to $7,666 per ton, rising by 4.3% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 27% against the previous year. Over the period under review, average import prices reached the peak figure at $8,028 per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Bahrain ($8,856 per ton) and Thailand ($8,800 per ton), while the price for the United Arab Emirates ($7,420 per ton) and China ($7,679 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Exports in Saudi Arabia
Shrimp exports from Saudi Arabia fell to 18K tons in 2022, which is down by -14.1% compared with the year before. In general, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 39% against the previous year.
In value terms, shrimp exports declined to $104M in 2022. Overall, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 20% against the previous year.
| Export of Shrimp in Saudi Arabia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 79.6 | 37.9 | 60.6 | 57.7 | -10.2% |
| Egypt | 9.2 | 27.6 | 18.8 | 18.0 | 25.1% |
| United States | 3.6 | 5.2 | 8.2 | 7.8 | 29.4% |
| Spain | 9.0 | 3.0 | 3.0 | 4.3 | -21.8% |
| South Korea | 5.5 | 1.1 | 2.2 | 2.6 | -22.1% |
| Kuwait | 2.9 | 3.0 | 1.9 | 2.1 | -10.2% |
| Bahrain | 0.4 | 4.0 | 1.9 | 1.8 | 65.1% |
| Taiwan (Chinese) | 2.6 | 2.7 | 1.3 | 1.8 | -11.5% |
| Others | 9.3 | 9.3 | 15.3 | 7.4 | -7.3% |
| Total | 122 | 94.0 | 113 | 104 | -5.2% |
Top Export Markets for Shrimp from Saudi Arabia in 2022:
- China (9.3K tons)
- Egypt (3.6K tons)
- Bahrain (1.1K tons)
- United States (1.0K tons)
- Spain (0.8K tons)
- Kuwait (0.7K tons)
- South Korea (0.4K tons)
- Taiwan (Chinese) (0.3K tons)
Shrimp Imports in Saudi Arabia
In 2022, after two years of decline, there was significant growth in purchases abroad of shrimps, when their volume increased by 14% to 8.7K tons. Overall, imports, however, continue to indicate a abrupt setback.
In value terms, shrimp imports skyrocketed to $66M in 2022. Over the period under review, imports, however, recorded a abrupt slump.
| Import of Shrimp in Saudi Arabia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 48.5 | 56.8 | 19.3 | 36.8 | -8.8% |
| India | 3.5 | 1.8 | 23.0 | 15.3 | 63.5% |
| Bahrain | 15.4 | 7.7 | N/A | 7.4 | -21.7% |
| China | 17.5 | 1.1 | N/A | 4.1 | -38.4% |
| Thailand | N/A | 0.5 | 2.9 | 1.9 | 94.9% |
| Malaysia | N/A | 4.0 | 0.6 | N/A | -85.0% |
| Others | 1.7 | 5.0 | 10.0 | 0.9 | -19.1% |
| Total | 86.7 | 76.8 | 55.8 | 66.3 | -8.6% |
Top Suppliers of Shrimp to Saudi Arabia in 2022:
- United Arab Emirates (5.0K tons)
- India (2.0K tons)
- Bahrain (0.8K tons)
- China (0.5K tons)
- Thailand (0.2K tons)
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