New data just added to Undercurrent News' prices portal shows Ecuador's vannamei shrimp continues to be the world's cheapest, dropping as prices from other major suppliers remain steady.
When converted to dollars, shrimp from India, Indonesia, Thailand and Vietnam remains more expensive than Ecuador's. While prices in Ecuador are falling, levels in the other main supply origins are pretty stable, data on the Undercurrent portal shows.
Chinese raw material is falling but remains by far the world's most expensive shrimp. Even with this price decline, the level from Ecuador is more than half that of China, data on the prices portal shows.
In week 49 (Nov. 30-Dec. 6), prices for 60-count shrimp from China's Guangdong hub fell 4% compared to week 47 to $6.86/kg (when converted to dollars). Meanwhile, prices for 50-60 counts in Ecuador fell 8% in the same period to $2.80/kg, with 60-70 count down 2% to $2.60/kg. Prices for week 50 are available for Indian shrimp, but not yet for the other point of origin.
Prices for all sizes from Ecuador have suffered in 2020, with demand dropping in China, the main market for the Latin American country, due to the coronavirus pandemic. Meanwhile, supply has been far better than expected. Ecuadorian farmed shrimp production has grown just over 7% year-on-year to 563,051 metric tons between January and October of 2020, according to data from the country's national chamber of aquaculture.
Also, Chinese farmgate prices lie at their lowest levels in at least eight years even with imports flat, according to industry sources and locally reported prices.
Weaker prices for farmers in key production areas, such as Guangdong province in south China, have been attributed to scares linking the coronavirus to seafood and lower domestic demand, as well as greater domestic supply due to higher shrimp survival rates, sources told Undercurrent.
Indonesian prices drop across board
New data on the portal on Indonesian farm-gate shrimp prices -- another recent addition from a partnership with Jala Tech -- show prices dropped across the board in week 49.
An average index of shrimp from various Indonesian provinces shows declines for 30, 40, 50, 60, 70, 80, 90 and 100 count shrimp are all down. For 30 count, prices dropped 5% to IDR 86,911 ($6.16), with 60 down 4.5% to IDR 64,147/kg and 90 count down 5% to IDR 54,441/kg. For more details on what happened in the different provinces, click here.
Prices drop in India's Andhra Pradesh
The latest prices for small-sized head-on, shell-on, farm-gate vannamei shrimp from Andhra Pradesh dropped in week 50, according to data supplied by aquatech fiirm Aquaconnect.
In the primary farming state of Andhra Pradesh, prices for smaller shrimp followed different trends depending on sizes. While prices for 80-count shrimp dropped by 4% week-on-week to INR 270/kg ($3.67/kg), prices for 100-count remained flat at INR 245/kg in week 50.
Farm-gate prices for larger shrimp also remained stable at INR 500/kg and INR 420/kg for 30 and 40-count shrimp, respectively, for the third consecutive week. For more on the prices from Gujarat and West Bengal, click here.
Bigger sizes rise in Thailand, Vietnam on up
In Thailand, where production is expected to be between 280,000t-300,000t in 2020, prices for 60 and 70 count shrimp are rising, but 80 count is steady for week 48.
For 60 and 70 count, prices edged up to THB 147.50/kg ($4.91/kg) and THB 142.50/kg, respectively, with 80 flat at THB 127.50/kg.
For Vietnam, prices are also rising. For 50 count, prices have risen 6% between week 45 and 47 to VND 122,000/kg ($5.26), with 80 count up 4% to VND 102/kg in the same period. prices for 100 count are up 7% in the period to VND 96,000/kg.
December 10, 2020 at 01:29AM
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Ecuador's farm-gate shrimp prices languish as world's lowest - Undercurrent News
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