Shrimp Price in Thailand - 2023
Contents:
- Shrimp Price in Thailand (FOB) - 2023
- Shrimp Price in Thailand (CIF) - 2022
- Shrimp Exports in Thailand
- Shrimp Imports in Thailand
Shrimp Price in Thailand (FOB) - 2023
In June 2023, the average shrimp export price amounted to $9,439 per ton, dropping by -6.1% against the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in July 2022 an increase of 7.8% month-to-month. Over the period under review, the average export prices hit record highs at $10,985 per ton in January 2023; however, from February 2023 to June 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was the United States ($11,748 per ton), while the average price for exports to Myanmar ($1,844 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 Taiwan (Chinese) (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Price in Thailand (CIF) - 2022
The average shrimp import price stood at $3,873 per ton in 2022, falling by -12.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2013 when the average import price increased by 34%. Over the period under review, average import prices reached the peak figure at $5,455 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
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 Argentina ($7,988 per ton), while the price for Malaysia ($390 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Exports in Thailand
Shrimp exports from Thailand declined dramatically to 112K tons in 2022, waning by -29.1% against 2021 figures. Overall, exports faced a abrupt curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 3%.
In value terms, shrimp exports declined rapidly to $1.2B in 2022. In general, exports faced a deep contraction. The pace of growth was the most pronounced in 2021 when exports increased by 7.9% against the previous year.
| Export of Shrimp in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 481 | 503 | 498 | 399 | -6.0% |
| Japan | 427 | 355 | 381 | 374 | -4.3% |
| China | 334 | 197 | 252 | 115 | -29.9% |
| South Korea | 63.6 | 71.7 | 100 | 70.9 | 3.7% |
| Australia | 56.4 | 51.1 | 48.9 | 43.3 | -8.4% |
| Canada | 62.3 | 47.0 | 50.9 | 34.3 | -18.0% |
| Hong Kong SAR | 55.3 | 34.6 | 35.9 | 32.1 | -16.6% |
| Taiwan (Chinese) | 54.8 | 56.8 | 64.4 | 26.2 | -21.8% |
| Malaysia | 24.5 | 18.5 | 20.5 | 18.4 | -9.1% |
| United Kingdom | 34.4 | 34.3 | 28.7 | 8.0 | -38.5% |
| Others | 95.7 | 67.6 | 70.3 | 67.5 | -11.0% |
| Total | 1,689 | 1,437 | 1,551 | 1,188 | -11.1% |
Top Export Markets for Shrimp from Thailand in 2022:
- United States (34.8K tons)
- Japan (33.6K tons)
- China (9.2K tons)
- Malaysia (7.0K tons)
- South Korea (6.4K tons)
- Hong Kong SAR (4.5K tons)
- Australia (3.7K tons)
- Canada (3.0K tons)
- Taiwan (Chinese) (2.8K tons)
- United Kingdom (0.6K tons)
Shrimp Imports in Thailand
In 2022, after three years of growth, there was significant decline in purchases abroad of shrimps, when their volume decreased by -60% to 17K tons. Over the period under review, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 68%. As a result, imports attained the peak of 43K tons, and then fell sharply in the following year.
In value terms, shrimp imports shrank markedly to $66M in 2022. Overall, imports faced a deep contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 83%. As a result, imports reached the peak of $189M, and then fell sharply in the following year.
| Import of Shrimp in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Argentina | 42.2 | 41.4 | 65.2 | 30.7 | -10.1% |
| India | 10.6 | 5.4 | 8.1 | 9.1 | -5.0% |
| Greenland | 4.0 | 3.7 | 4.2 | 3.5 | -4.4% |
| Vietnam | 3.0 | 3.4 | 3.8 | 3.3 | 3.2% |
| Malaysia | 3.8 | 3.2 | 3.8 | 2.7 | -10.8% |
| Pakistan | 5.8 | 4.5 | 3.9 | 2.6 | -23.5% |
| Canada | 3.9 | 4.6 | 2.5 | 1.1 | -34.4% |
| Indonesia | 0.6 | 0.4 | 0.6 | 0.6 | 0.0% |
| Ecuador | 2.4 | 8.5 | 72.9 | N/A | 451.1% |
| Myanmar | 12.4 | 10.1 | 6.5 | N/A | -27.6% |
| Others | 19.1 | 18.2 | 17.8 | 13.0 | -12.0% |
| Total | 108 | 104 | 189 | 66.5 | -14.9% |
Top Suppliers of Shrimp to Thailand in 2022:
- Malaysia (6.8K tons)
- Argentina (3.8K tons)
- India (1.7K tons)
- Vietnam (1.0K tons)
- Greenland (0.9K tons)
- Pakistan (0.5K tons)
- Indonesia (0.4K tons)
- Canada (0.3K tons)
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