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The U.S shrimp market: Shrimp prices spiked in early July
August 22, 2013, 11:28 AM
The market moved sharply higher even on large Indian whites which are in production with imports heavy as news spread of likely disease driven production issues in Mexican farmed shrimp.

Although  it  was  anticipated  by  some  that  Thailand production  might  improve  in  the  3rd  quarter,  it appears that improvements  in  production  and  imports  are  at least  delayed  and  shortfalls  may  be  worse  than initially  considered.  So  despite  the  better  import figures  from  the  top  supplying  countries  with  the glaring exception of Thailand, the shrimp market has become a sellers’ market.  

Beginning  in  early  July  the  focus  of  the  market gravitated  mostly  towards  sourcing  product  as buyers looked to acquire product for both immediate needs  and  4th  quarter  holiday  needs  amid  the  short situation  that  has  developed.  However,  the  flurry  in buying  activity  has  prompted  sellers  to  seek  further premiums  in  an  attempt  to  preserve  their  own supplies  and  forced  overseas  offerings  higher  amid renewed buying pressure. 

The  result  is  that  premiums  continue  to  develop throughout  the  entire  shrimp  complex.  On-hand supplies  range  barely  adequate  to  short  with  many holes  developing  in  inventories;  and  replacement offerings,  when  available,  are  stronger.  Remaining inventories  in  the  U.S.  are  being  closely  held,  and offerings trend higher. 

Replacement offerings  continue  to  trend  higher;   however, reports are that in many cases overseas packers have temporarily pulled off the market and limit commitments as they wait for the spot market to settle. With the advancing price of raw material some packers have struggled to fill commitments.

Source: (Seafood)
Nguyen Bich
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Specialist on Shrimp market
Ms Kim Thu
Tel: 84.24.3771.5055 (ext 203)
Portal of Vietnam Association of Seafood Exporters and Producers (VASEP)
Head office in HCM city: No 7, Nguyen Quy Canh Road, An Phu Ward, District 2, Ho Chi Minh City, Vietnam
Tel: (+84 28) 62810430 / Fax: (+84 28) 62810437 - Email: vasephcmcity@vasep.com.vn
Rep. office in Ha Noi: 10 Nguyen Cong Hoan Street, Ngoc Khanh Ward, Ba Dinh District, Ha Noi City, Vietnam
Tel: (+84 24) 37715055 / 37715318 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
In charge of content: Nguyen Hoai Nam (Mr) – Deputy General Secretary of VASEP
Managing Editor: Phung Thi Kim Thu (Ms.) Tel: (+84 24) 37715055 (ext: 203)
Email: kimthu@vasep.com.vn
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