Shrimp Price in South Africa - 2023
Contents:
- Shrimp Price in South Africa (CIF) - 2023
- Shrimp Price in South Africa (FOB) - 2023
- Shrimp Imports in South Africa
- Shrimp Exports in South Africa
Shrimp Price in South Africa (CIF) - 2023
In June 2023, the average shrimp import price amounted to $7,114 per ton, rising by 12% against the previous month. In general, the import price continues to indicate a modest increase. The most prominent rate of growth was recorded in August 2022 when the average import price increased by 24% against the previous month. The import price peaked in June 2023.
Prices varied noticeably by the country of origin: the country with the highest price was Vietnam ($13,122 per ton), while the price for Argentina ($5,054 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in South Africa (FOB) - 2023
The average shrimp export price stood at $6,924 per ton in June 2023, with an increase of 41% against the previous month. In general, export price indicated a perceptible increase from June 2022 to June 2023: its price increased at an average monthly rate of +3.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, shrimp export price increased by +75.4% against March 2023 indices. The export price peaked at $8,181 per ton in November 2022; however, from December 2022 to June 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Zimbabwe ($9,360 per ton), while the average price for exports to Botswana ($2,121 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 Zambia (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in South Africa
In 2022, approx. 9.2K tons of shrimps were imported into South Africa; increasing by 1.9% on the previous year. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +7.8% 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 +66.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 63%. Imports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, shrimp imports expanded to $57M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +8.6% 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 +75.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 72%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.
| Import of Shrimp in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 15.5 | 12.5 | 18.6 | 19.1 | 7.2% |
| Argentina | 10.6 | 3.9 | 16.7 | 17.2 | 17.5% |
| Ecuador | 4.8 | 5.5 | 9.0 | 9.3 | 24.7% |
| Vietnam | 5.6 | 5.4 | 4.8 | 5.3 | -1.8% |
| Saudi Arabia | 2.1 | 1.2 | 1.9 | 2.0 | -1.6% |
| Namibia | 2.4 | 1.7 | 0.1 | 1.4 | -16.4% |
| Others | 3.2 | 2.2 | 4.4 | 2.4 | -9.1% |
| Total | 44.3 | 32.4 | 55.6 | 56.8 | 8.6% |
Top Suppliers of Shrimp to South Africa in 2022:
- India (3.8K tons)
- Argentina (2.5K tons)
- Ecuador (1.6K tons)
- Vietnam (0.6K tons)
- Saudi Arabia (0.3K tons)
- Namibia (0.3K tons)
Shrimp Exports in South Africa
In 2022, the amount of shrimps exported from South Africa amounted to 874 tons, growing by 5.5% compared with the previous year's figure. Overall, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +17.0% 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 +60.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 36% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, shrimp exports expanded to $5M in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +10.3% 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 +45.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 39%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Shrimp in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Namibia | 774 | 638 | 1,086 | 1,143 | 13.9% |
| India | 138 | 267 | 1,044 | 1,099 | 99.7% |
| Italy | 764 | 783 | 56.5 | 525 | -11.8% |
| Democratic Republic of the Congo | 295 | 187 | 458 | 482 | 17.8% |
| Zambia | 284 | 255 | 264 | 277 | -0.8% |
| Botswana | 239 | 204 | 235 | 247 | 1.1% |
| Zimbabwe | 137 | 290 | 185 | 204 | 14.2% |
| Swaziland | 201 | 181 | 163 | 181 | -3.4% |
| Others | 879 | 617 | 1,272 | 819 | -2.3% |
| Total | 3,712 | 3,422 | 4,763 | 4,978 | 10.3% |
Top Export Markets for Shrimp from South Africa in 2022:
- India (209.0 tons)
- Namibia (207.9 tons)
- Zambia (123.9 tons)
- Botswana (59.2 tons)
- Democratic Republic of the Congo (57.8 tons)
- Swaziland (45.2 tons)
- Zimbabwe (40.6 tons)
- Italy (33.6 tons)
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