How do you follow the largest shrimp import month ever for a country? Answer: You return with another strong month.
That's what the US did in September, taking in 75,095 metric tons of shrimp worth $652.2 million, according to the latest update of seafood import data by the National Oceanic and Atmospheric Administration (NOAA).
That was 9% less in volume than the record-breaking 82,411 metric tons imported in August 2020 but 18% more than the 63,900t imported in September 2019.
Also, the overall value of the shrimp imports in September was 7% less than the $701.5 million garnered in August 2020 but 18% more than the $554.8m value imported in August 2019.
The numbers show the US shrimp import market still rebuilding in the wake of a near-collapse in May after the coronavirus pandemic caused many restaurants to shutdown and led the country to import just 37,961t of shrimp – a seven-year-low -- worth $319.0m, as reported by Undercurrent News.
The recent rally lifts US imports to 535,165t worth $4.6bn for the first nine months of 2020, up 8% from the 496,134t in volume and up 10% from the $4.2bn in value during the same period last year.
As Jeff Sedacca, CEO of the Sunnyvale Seafood Company, a Union City, California-based division of China's Zhanjiang Guolian Aquatic Products, suggested earlier, the most likely explanation is a backup in India. As a result of the pandemic, shrimp plants in the US' largest source country were not able to harvest, process or get their product on the water.
However, after a major surge in August that saw India send the US 31,676t of shrimp worth $273.6m, the US’ leading source of shrimp sent it 24,994t worth $220.4m in Sept. 2020. That was 10% less in volume than the 27,690t sent the US in Sept. 2019 and it was worth 8% less than the $239.5m paid during that earlier period.
The average price paid for Indian shrimp in Sept. 2020 was $8.68 per kilogram, which was the same as what was paid in Sept. 2019, and up less than a percent from the $8.64/kg paid in August 2020.
The continued stability of prices has continued for head-on, shell-on, farm-gate vannamei shrimp from Andhra Pradesh since September, based on the latest data supplied by aquatech and farming services company Aquaconnect, as also reported by Undercurrent.
For the third consecutive week, farm-gate prices for 30 and 40-count shrimp have remained stable at INR 490 ($6.58) and INR 400, as it also happened with prices for 60 and 80-count shrimp, which also remained stable at INR 320 and INR 260. Small-sized, 100-count shrimp prices also remained flat at INR 230.
Ecuador has foot on gas
NOAA’s latest update of imported seafood data shows another big trend continuing, too: Ecuador escalating the amount of shrimp it sends to the US.
Ecuador sent the US 15,160t of shrimp worth $93.8m in September 2020, a little less than the 16,482t worth $101.4m sent in August 2020 but 123% more in volume and 106% more in value than what it sent the US in Sept. 2019.
For the second consecutive month, the South American nation has stayed ahead of Indonesia as the US’ second-largest source of shrimp.
Undercurrent reported in July how Ecuador shrimp exporters were cozying up more to the US as a result of losing much of their market in China over COVID-19-related concerns and restrictions.
The average price paid for Ecuadorian vannemei in September was $6.18/kg, just a few cents more than the $6.15/kg paid in August but still a bargain. The price is down 7% from the $6.68/kg paid in September 2019.
Meanwhile, Indonesia also sent the US more shrimp in Sept. 2020: 14,270t worth $130.2m, 35% more in volume and 45% more in value than in Sept. 2019.
Argentina, Mexico on the rise, too
Another country that made a sizable jump in the amount of shrimp it sent the US was Argentina. The US imported 2,087t of that country’s famous wild-caught red shrimp, worth $22.2m, an 83% increase in volume and a 99% increase in value.
The average price being paid for the red shrimp in Sept. 2020 was $10.63/kg, up 8% from the price paid in Sept. 2019. Still, the price was better than the $11.59/kg paid for shrimp from Thailand.
A "cocktail of issues" have caused shrimp landings to come in lower than in previous years, sources told Undercurrent in September. They included a delayed start, slower processing operations due to strict lockdowns imposed by local governments and reduced biomass slowed the pace of shrimp landings.
Also up was shrimp from Mexico. The US imported 2,526t worth $22.5m, an increase of 32% on volume and 42% on value over Sept. 2019.
Still going in the other direction, due largely to the US tariffs enforced as part of president Donald Trump’s ongoing trade war, is Chinese shrimp. The US imported just 672t worth $2.5m, 64% less in volume and 74% less in value than in Sept. 2019. The price of Chinese shrimp hit a weak rate of $3.65/kilo.
November 05, 2020 at 01:41AM
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August 2020 US shrimp imports were hard act to follow, but September tried - Undercurrent News
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