Chinese shrimp exports down
In 2014, China’s shrimp exports reached 233 thousand MT, worth by US$ 2.55 million, down 14% by volume but up 16% by value from the previous year. The average export price touched US$ 10.95/kg, up 16% from 2013. Main consuming markets included Malaysia, Hong Kong, the U.S., Japan and Taiwan.
For the year to July 2015, shrimp exports by China reached US$979.5 million, down 21.6% year on year. Among top 10 markets of Chinese shrimp, Spain and Canada raised importing shrimp from China with the growth of 19.4% and 24.9%, respectively while other 8 markets witnessed declines, among which, shrimp exports to Malaysia reported the deepest dive of 44.2%. The average export price of Chinese shrimp tend to rise compared to 2014 with the price of more than US$9/kg.
China’s shrimp production in 2015 is expected to drop by 25-40% from 2014 and much lower than 2013.
Imports up
China is one of the world's shrimp importing markets. Shrimp imports in 2014 reached 78 thousand MT, equivalent to US$555 million, up 10% year on year by volume and 26% by value. Average import price was US$7.1/kg, up 15% year on year.
Turning to the first 7 months of the year, shrimp imports into China surpassed US$ 323 million, up 19.8% year on year. The increase in shrimp imports can be explained by slump in Chinese shrimp domestic supply, which was caused by unfavourable weather and epidemics.
Thailand was the largest shrimp supplier with the year-on-year growth of 48.5%. It was followed by Canada with the growth of 46%. China imported raw shrimp for processing mainly from India and Ecuador. Vietnam is also a supply of raw shrimp to China.
Opportunities for Vietnamese shrimp suppliers
China is a potential market for Vietnamese shrimp suppliers, mostly because of the close geograpical position and the economic outlook.
Amid decline in shrimp exports to main markets like the U.S., Japan and the EU, China is considered as an alternative choice of many Vietnamese shrimp exporters. By September this year, about 35 Vietnamese companies have exported their products to the market.
As the stock market crash affected the middle class, affectingthe demand for high-priced products, it is expected that Vietnam shrimp exports to China will decline but with smaller declining rates in the coming months.
|
Shrimp imports into China (Value: US$thousand, Source: ITC) |
|||
|
Supply |
Jan-Jul 2014 |
Jan-Jul 2015 |
Variations (%) |
|
The world |
269,951 |
323,320 |
19.8 |
|
Thailand |
48,982 |
72,729 |
48.5 |
|
Canada |
35,731 |
52,146 |
45.9 |
|
Ecuador |
64,983 |
42,818 |
-34.1 |
|
Indonesia |
6,611 |
33,056 |
400.0 |
|
India |
24,803 |
26,450 |
6.6 |
|
Argentina |
18,823 |
24,123 |
28.2 |
|
The U.S. |
12,837 |
13,245 |
3.2 |
|
Greenland |
9,533 |
12,834 |
34.6 |
|
Malaysia |
3,002 |
7,541 |
151.2 |
|
Myanmar |
5,066 |
7,057 |
39.3 |
|
Russia |
4,783 |
6,890 |
44.1 |
|
Vietnam |
12,710 |
5,435 |
-57.2 |
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