Chinese consumer fears over positive traces of the coronavirus found on packages of imported shrimp wiped $220 million off the value of China's September frozen warmwater shrimp imports, the latest Chinese customs data shows.
Imports fell from $326m in September of 2019 to $105m in September of this year, according to trade data compiled by Undercurrent News, a drop of 63%.
In volume terms, China imported 19,500 metric tons of shrimp, trade data released this week shows, down from 53,000t in September of 2019. This equals a drop of 63%.
The slump follows the detection of traces of the coronavirus on packages of imported shrimp from Ecuador in July. Three Ecuadorian shrimp companies were suspended from exporting to China, although the suspensions were lifted in August.
In September, imports from Ecuador fell 68% y-o-y to 9,710t.
Imports from other origins also fell; imports from India fell 71% y-o-y to 3,661t, while imports from Vietnam fell 74% y-o-y to 1,279t.
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Latest trade data from Ecuador shows exports to China picking up, as consumers begin to recover confidence in the products. However, a large Chinese importer recently told Undercurrent it may take several months before imports return to normal.
China imported 444,000t of frozen warmwater shrimp in the first nine months of this year, up 3% compared with the corresponding period last year. The value of imports was $2.55 billion over the period, down 2% y-o-y. Meanwhile, the average unit value was $5.74 per kilogram for imports, down 5% y-o-y.
This is not a like-for-like comparison as last year's significant quantities of imports were being imported through the grey trade with Vietnam.
Given the large volume of shrimp that was still entering China from Vietnam -- particularly in the first half of 2019 -- China's total imports are likely lower than last year.
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China's frozen warmwater shrimp imports, Sep, 2020
| Volume (Metric tons) | Value ($m) | Average unit value ($/kg) | Change y-o-y (vol) | Change y-o-y (val) | Change y-o-y ($/kg) | |
|---|---|---|---|---|---|---|
| Ecuador | 9,710 | 44 | 4.57 | -68% | -74% | -20% |
| India | 3,661 | 20 | 5.47 | -71% | -74% | -10% |
| Vietnam | 1,279 | 7 | 5.74 | -74% | -79% | -18% |
| Thailand | 913 | 8 | 8.99 | -54% | -54% | 0% |
| Malaysia | 785 | 5 | 5.99 | 7% | -6% | -12% |
| Argentina | 738 | 5 | 6.51 | -17% | -26% | -11% |
| Indonesia | 624 | 3 | 4.89 | 38% | 21% | -12% |
| Venezuela | 118 | 0.4 | 3.60 | N/A | N/A | N/A |
| Others | 1,713 | 12 | 7.20 | 26% | 24% | -1% |
| Total | 19,539 | 105 | 5.39 | -63% | -68% | -12% |
| Source: Chinese customs data (HS code: 030617) compiled by Undercurrent News | ||||||
China's frozen warmwater shrimp imports, Jan-Sep, 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 | 268,182 | 1,443 | 5.38 | 23% | 17% | -5% |
| India | 79,655 | 458 | 5.75 | -26% | -25% | 1% |
| Argentina | 21,463 | 150 | 7.00 | 12% | 2% | -9% |
| Vietnam | 18,585 | 129 | 6.96 | -10% | -18% | -9% |
| Thailand | 14,022 | 129 | 9.22 | -23% | -20% | 3% |
| Indonesia | 10,710 | 56 | 5.25 | 66% | 53% | -8% |
| Malaysia | 10,333 | 61 | 5.88 | 71% | 42% | -17% |
| Venezuela | 3,306 | 12 | 3.72 | N/A | N/A | N/A |
| Others | 17,520 | 110 | 6.27 | -52% | -50% | 3% |
| Total | 443,776 | 2,549 | 5.74 | 3% | -2% | -5% |
| Source: Chinese customs, ITC data (HS code: 030617) compiled by Undercurrent News | ||||||
October 30, 2020 at 05:00PM
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Trade insights: COVID links wipe $220m off China's September shrimp imports - Undercurrent News
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