China tends to raise shrimp imports

News 10:09 31/03/2016

(vasep.com.vn) In 2014, China’s shrimp exports reached 233 thousand MT, worth by US$2.55 million, down 14% in volume and up 16% in value from those of 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%. China’s shrimp exports to 8 other markets witnessed the decline in 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 is also a large shrimp importer in the world. Shrimp imports into the country in 2014 reached 78 thousand MT, worth by US$555 million, up 10% in volume and 26% in value from those of the previous year. The average import price was US$7.1/kg, up 15% year on year.

In the first 7 months of the year, shrimp imports into China touched over US$323 million, up 19.8% year on year. 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% in supplying shrimp to China.

Since 2012, China has become the 4th largest importing market of Vietnam shrimp with the proportion of 11.2% in the total shrimp exports by Vietnam. Vietnam shrimp exports to this market kept the continuous growth in each year. Shrimp proportion of the total seafood exports from Vietnam to China is increasingly high.

In the first half of October 2015, Vietnam shrimp sales to China gained US$20 million, up 18.5% year on year.

Through 15th October 2015, Vietnam shrimp exports to the market reached more than US$268 million, down 22.2% year on year. This was the fourth largest importer of Vietnam shrimp behind the U.S., Japan and EU.

Shrimp imports into China reported upward trend in recent years due to slump in domestic supply of shrimp caused by unfavourable weather and epidemic. China is considered to be a potential market of Vietnam shrimp thanks to its quality requirements without difficulty, close geograpical position and bright outlook for economic growth.

Amid decline in shrimp exports to main markets like the U.S., Japan, EU; China is considered as an alternative choice of many Vietnam shrimp exporters. By September this year, about 35 Vietnamese companies exported their products to the market with key products such as frozen fresh whole black tiger shrimp or peeled, head-off (occupying 30% of the total exports); frozen whole whiteleg shrimp or peeled, head-off (30%) and the rest was processed shrimp, lobster, live mantis shrimp.

China’s shrimp production in 2015 is expected to drop by 25-40% from 2014 and much lower than 2013. China imported raw shrimp for processing mainly from India and Ecuador. Vietnam is also a supply of raw shrimp to China.

It is expected that Vietnam shrimp exports to China will continue to decline but with smaller reduction in the coming months as the stock market crash affected the middle class and reduced the demand for high-priced products.

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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China tends to raise shrimp imports

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