December 14, 2011United States
Washington State—Ken Talley Reports on USA Shrimp Imports
The December 12, 2011, issue of Ken Talley’s Seafood Trend Newsletter (independent coverage of the seafood market since 1984), reports on USA shrimp imports through October 2011. Some excerpts:
The demand for shrimp in the United States shows no sign of slowing. The volume of imports is growing and so is the value and average import price. October imports rose by 5.2% over last year to some 136 million pounds. That brings the total import volume this year to just over one billion pounds for the first eight months of this year, an increase of 3.8%. While the increase in volume has been slow and steady, the increase in value has soared this year. All told, shrimp imports through October were worth $4.2 billion, a whopping, double-digit gain of 25% over the $3.3 billion in October 2010.
This resulted in a strong 20.5% gain in the average value of the imported shrimp from $3.36 a pound in 2010 to $4.05 this year.
As has been the case all year, shrimp is deemed a good value even though prices have been increasing along with volume. In a market where king crab wholesales for as much as $25 a pound and Dungeness sections approach $7 a pound, shrimp represents a great competitive value.
Indonesia has benefited from its crop of giant tiger shrimp (Penaeus monodon) as many Asian producers move to white shrimp (P. vannamei). Japan and the USA compete for Indonesia’s shrimp, with total exports to the USA reaching 128.4 million pounds, up 14.4%. India has seen a huge 77.1% increase in shrimp exports to the USA through October. Two main factors are responsible: the weak rupee, which makes Indian shrimp a good buy, and the increased production of white shrimp. Importantly, a significant volume of India’s white shrimp is larger than usual, making for strong demand so far this year.
Vietnam has held steady in shipments to the USA despite floods and disease problems.
Malaysia’s shrimp exports to the USA continue to increase as marketers there shift their attention away from Europe and to markets in Asia and the USA. The expense of retrofitting plants to meet new standards from the European Union have meant more shrimp to the USA.
Source: Seafood Trend Newsletter (8227 Ashworth Avenue North, Seattle, Washington 98103-4434, USA (phone , fax 1-206-526-8719, email@example.com). Editor, Ken Talley. December 12, 2011.