China’s imports of frozen warmwater shrimp dived by 49% in August compared with July to 29,000 metric tons, after traces of the coronavirus were found on imported shrimp packages.
The fall in volume was surpassed by the drop in total value of imports, down 51% compared with July to $153 million, as the average unit value of imports dropped to $5.28 per kilogram, according to Chinese customs figures compiled by Undercurrent News.
Compared with June, import volumes were down 61%, equivalent to a drop of 46,000t. On a year-on-year basis -- compared with August of 2019 -- imports were down by 54%.
Although Chinese authorities detected traces of the coronavirus on the outer packaging of imported Ecuadorian shrimp only, imports from almost all origins fell sharply (see table below article).
Unsurprisingly, China registered a big drop in imports from Ecuador, down 55% y-o-y to 16,500t.
However, imports from India fell by a greater amount, down 67% y-o-y to just 5,400t, possibly due to border skirmishes between India and China in disputed territory in the Himalayas. According to industry sources, Chinese customs processes for shrimp containers experienced delays following the clash.
Meanwhile, China’s imports from Vietnam and Thailand fell 55% y-o-y and 53% y-o-y, to 1,600t and 900t respectively.
On the upside, Venezuela’s shrimp industry could celebrate China’s record monthly imports from the country of 1,700t, worth $6m. This ranked Venezuela third place in terms of market share by volume. However, the average unit value of Venezuelan shrimp was just $3.62/kg, over a dollar per kilogram cheaper than from Ecuador.
-------------------------
Our Trade Insights series analyzes the latest trade data on a key commodity. To make sure you don't miss any updates, we recommend signing up to our Trade newsletter, here. To view all past updates, click here or here.
China's warmwater shrimp imports, Aug 2020
| Volume (Metric tons) | Value ($m) | Average unit value ($/kg) | Change y-o-y (vol) | Change y-o-y (val) | Change y-o-y ($/kg) | |
|---|---|---|---|---|---|---|
| Ecuador | 16,453 | 80 | 4.84 | -55% | -61% | -13% |
| India | 5,418 | 31 | 5.66 | -67% | -68% | -3% |
| Venezuela | 1,654 | 6 | 3.62 | NA | NA | NA |
| Vietnam | 1,621 | 11 | 6.67 | -55% | -56% | -4% |
| Argentina | 978 | 6 | 6.07 | 15% | 9% | -5% |
| Thailand | 892 | 8 | 9.47 | -53% | -52% | 1% |
| Indonesia | 836 | 4 | 4.86 | 59% | 25% | -21% |
| Malaysia | 720 | 5 | 6.29 | -30% | -31% | -1% |
| Others | 343 | 2 | 7.19 | -87% | -83% | 29% |
| Total | 28,914 | 153 | 5.28 | -54% | -59% | -10% |
| Source: Chinese customs data compiled by Undercurrent News | ||||||
September 28, 2020 at 04:16PM
https://ift.tt/36dxUep
Trade insights: China's warmwater shrimp imports dive 49% in August - Undercurrent News
https://ift.tt/3eNRKhS
shrimp
No comments:
Post a Comment