Shrimp Price in the UK - 2023
Contents:
- Shrimp Price in the UK (CIF) - 2023
- Shrimp Price in the UK (FOB) - 2023
- Shrimp Imports in the UK
- Shrimp Exports in the UK
Shrimp Price in the UK (CIF) - 2023
The average shrimp import price stood at $9,945 per ton in April 2023, remaining relatively unchanged against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 when the average import price increased by 11% m-o-m. As a result, import price attained the peak level of $11,132 per ton. From November 2022 to April 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In April 2023, the country with the highest price was Bangladesh ($12,895 per ton), while the price for Indonesia ($6,428 per ton) was amongst the lowest.
From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by Argentina (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in the UK (FOB) - 2023
In April 2023, the average shrimp export price amounted to $9,177 per ton, waning by -12.8% against the previous month. Over the period under review, the export price showed a perceptible setback. The pace of growth appeared the most rapid in December 2022 an increase of 16% against the previous month. The export price peaked at $13,304 per ton in April 2022; however, from May 2022 to April 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was France ($50,482 per ton), while the average price for exports to Thailand ($4,024 per ton) was amongst the lowest.
From April 2022 to April 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+2.8%), while the prices for the other major destinations experienced a decline.
Shrimp Imports in the UK
In 2022, shrimp imports into the UK rose modestly to 86K tons, increasing by 1.6% on the previous year's figure. The total import volume increased at an average annual rate of +3.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 10%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, shrimp imports totaled $867M in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 11%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Shrimp in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 208 | 220 | 223 | 217 | 1.4% |
| India | 119 | 110 | 138 | 135 | 4.3% |
| Denmark | 72.2 | 67.7 | 57.5 | 63.3 | -4.3% |
| Ecuador | 31.3 | 38.5 | 64.8 | 63.2 | 26.4% |
| Bangladesh | 66.9 | 64.4 | 50.8 | 58.4 | -4.4% |
| Honduras | 46.6 | 50.7 | 56.0 | 54.6 | 5.4% |
| Canada | 42.5 | 37.6 | 55.1 | 53.7 | 8.1% |
| Iceland | 44.1 | 39.9 | 40.7 | 40.0 | -3.2% |
| Thailand | 39.8 | 34.1 | 30.0 | 33.3 | -5.8% |
| Indonesia | 24.4 | 19.2 | 24.8 | 24.2 | -0.3% |
| Belgium | 6.1 | 3.3 | 18.9 | 18.4 | 44.5% |
| Norway | 25.7 | 12.0 | 17.2 | 17.6 | -11.9% |
| Netherlands | 16.2 | 11.8 | 12.3 | 12.9 | -7.3% |
| Others | 66.9 | 65.0 | 68.4 | 76.1 | 4.4% |
| Total | 809 | 774 | 857 | 867 | 2.3% |
Top Suppliers of Shrimp to the UK in 2022:
- Vietnam (19.3K tons)
- India (14.8K tons)
- Ecuador (7.8K tons)
- Denmark (7.0K tons)
- Canada (5.9K tons)
- Honduras (4.5K tons)
- Iceland (4.3K tons)
- Bangladesh (4.0K tons)
- Thailand (2.8K tons)
- Indonesia (2.7K tons)
- Norway (1.9K tons)
- Belgium (1.8K tons)
- Netherlands (1.6K tons)
Shrimp Exports in the UK
In 2022, exports of shrimps from the UK soared to 10K tons, increasing by 117% against the previous year. Overall, exports, however, showed a noticeable curtailment.
In value terms, shrimp exports skyrocketed to $86M in 2022. Over the period under review, exports, however, showed a perceptible setback.
| Export of Shrimp in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 3.5 | 20.9 | 14.7 | 19.2 | 76.4% |
| Ireland | 27.6 | 24.4 | 4.5 | 17.2 | -14.6% |
| Germany | 15.2 | 15.1 | N/A | 8.9 | -16.3% |
| Greece | 0.3 | 9.3 | 6.4 | 8.4 | 203.7% |
| France | 12.9 | 8.8 | 2.2 | 7.3 | -17.3% |
| Belgium | 9.7 | 6.0 | 1.4 | 5.2 | -18.8% |
| Poland | 5.7 | 3.4 | 3.1 | 4.0 | -11.1% |
| Italy | 5.1 | 3.0 | 0.2 | 2.5 | -21.2% |
| Denmark | 3.8 | 1.6 | 1.1 | 2.1 | -17.9% |
| Spain | 2.1 | 4.0 | 0.7 | 2.1 | 0.0% |
| Others | 11.1 | 8.4 | 5.5 | 8.7 | -7.8% |
| Total | 97.0 | 105 | 39.8 | 85.6 | -4.1% |
Top Export Markets for Shrimp from the UK in 2022:
- Netherlands (2751.4 tons)
- Ireland (1745.5 tons)
- Germany (1072.6 tons)
- France (896.5 tons)
- Greece (801.3 tons)
- Belgium (605.3 tons)
- Poland (541.7 tons)
- Italy (301.8 tons)
- Denmark (230.1 tons)
- Spain (189.8 tons)
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