Shrimp Price in the United States - 2023
Contents:
- Shrimp Price in the United States (CIF) - 2023
- Shrimp Price in the United States (FOB) - 2023
- Shrimp Imports in the United States
- Shrimp Exports in the United States
Shrimp Price in the United States (CIF) - 2023
The average shrimp import price stood at $8,249 per ton in June 2023, falling by -1.7% against the previous month. Over the period under review, the import price showed a mild descent. The most prominent rate of growth was recorded in May 2023 an increase of 2.3% month-to-month. Over the period under review, average import prices attained the maximum at $9,317 per ton in June 2022; however, from July 2022 to June 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Argentina ($12,089 per ton), while the price for Ecuador ($7,026 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 Thailand (-0.1%), while the prices for the other major suppliers experienced a decline.
Shrimp Price in the United States (FOB) - 2023
The average shrimp export price stood at $9,784 per ton in June 2023, falling by -4% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 an increase of 18% m-o-m. As a result, the export price reached the peak level of $13,518 per ton. From January 2023 to June 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In June 2023, the country with the highest price was Vietnam ($18,477 per ton), while the average price for exports to Venezuela ($6,435 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 Guatemala (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in the United States
In 2022, purchases abroad of shrimps decreased by -3.6% to 865K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +7.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 20%. As a result, imports attained the peak of 898K tons, and then shrank in the following year.
In value terms, shrimp imports totaled $8.2B in 2022. The total import value increased at an average annual rate of +9.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 24% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.
Import of Shrimp in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 2,461 | 2,357 | 2,990 | 2,881 | 5.4% |
Indonesia | 1,166 | 1,419 | 1,551 | 1,653 | 12.3% |
Ecuador | 568 | 788 | 1,368 | 1,574 | 40.5% |
Vietnam | 655 | 697 | 971 | 866 | 9.8% |
Thailand | 490 | 465 | 455 | 482 | -0.5% |
Mexico | 311 | 266 | 242 | 278 | -3.7% |
Argentina | 149 | 189 | 188 | 210 | 12.1% |
Others | 393 | 275 | 262 | 218 | -17.8% |
Total | 6,195 | 6,457 | 8,028 | 8,161 | 9.6% |
Top Suppliers of Shrimp to the United States in 2022:
- India (311.9K tons)
- Ecuador (204.9K tons)
- Indonesia (172.0K tons)
- Vietnam (74.3K tons)
- Thailand (39.9K tons)
- Mexico (20.8K tons)
- Argentina (17.1K tons)
Shrimp Exports in the United States
In 2022, approx. 14K tons of shrimps were exported from the United States; dropping by -25.7% on the previous year. Over the period under review, exports, however, showed strong growth. The pace of growth was the most pronounced in 2021 with an increase of 109%. As a result, the exports attained the peak of 19K tons, and then shrank significantly in the following year.
In value terms, shrimp exports contracted remarkably to $155M in 2022. Overall, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +7.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 69%. As a result, the exports reached the peak of $186M, and then shrank notably in the following year.
Export of Shrimp in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | 20.4 | 20.6 | 29.6 | 30.7 | 14.6% |
India | 19.7 | 19.4 | 28.9 | 21.0 | 2.2% |
Denmark | 12.0 | 9.6 | 23.3 | 20.2 | 19.0% |
Vietnam | 13.8 | 10.2 | 12.1 | 11.6 | -5.6% |
Indonesia | 6.0 | 4.3 | 3.3 | 7.1 | 5.8% |
Bahamas | 3.8 | 3.4 | 3.7 | 4.8 | 8.1% |
China | 7.8 | 6.2 | 5.2 | 3.9 | -20.6% |
South Korea | 2.1 | 1.4 | 3.2 | 3.7 | 20.8% |
Mexico | 3.9 | 3.2 | 15.3 | 3.3 | -5.4% |
Ecuador | 0.4 | 0.1 | 0.5 | 3.2 | 100.0% |
Bangladesh | 0.2 | 0.1 | 1.2 | 3.0 | 146.6% |
Guatemala | 0.1 | 0.1 | 0.7 | 2.8 | 203.7% |
Netherlands | 0.2 | 0.1 | 22.8 | 2.7 | 138.1% |
Others | 34.5 | 30.8 | 35.9 | 36.9 | 2.3% |
Total | 125 | 110 | 186 | 155 | 7.4% |
Top Export Markets for Shrimp from the United States in 2022:
- Canada (2941.5 tons)
- Denmark (2692.9 tons)
- India (1124.4 tons)
- Vietnam (669.8 tons)
- Indonesia (562.3 tons)
- South Korea (460.0 tons)
- Guatemala (427.8 tons)
- Ecuador (387.7 tons)
- Bahamas (384.5 tons)
- Mexico (358.1 tons)
- Netherlands (339.2 tons)
- Bangladesh (283.8 tons)
- China (254.3 tons)
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