Global shrimp import market growth is now barely at 1% as of the end of August, the latest figures from market consultancy Shrimp Insights indicates.
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According to consultancy founder Willem van der Pijl, Chinese shrimp imports dropped by 30% year-on-year across July and August following the discovery of positive traces of coronavirus on packages of frozen shrimp shipped from Ecuador.
Although the US market recorded 15% growth during the same period following a mass retail recovery, this has reportedly not been enough to balance out the drop in Chinese demand.
Total imports across the EU, the US and China during July and August were therefore down by 6% y-o-y.
Indeed, total shrimp import volumes are now only 1% ahead of 2019, Van der Pijl said, due to the exceptionally strong start to the year. Between them, the three markets exhibited a growth rate of 10% between January and March.
Of the three, the US is also now the only market to have seen a net growth in vannamei imports so far in 2020, Van der Pijl's data indicates (see below).
Credit: Shrimp Insights, on LinkedIn
October 26, 2020 at 11:00PM
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Global shrimp import growth flat YTD after China's summer shortfall - Undercurrent News
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