SEAFOOD.COM NEWS — May 7, 2014 — US shrimp import figures for March, just released, show a continuing strong increase of shrimp imports to the US, with overall imports up 14% for the first three months of the year.
US shrimp import figures for March, just released, show a continuing strong increase of shrimp imports to the US, with overall imports up 14% for the first three months of the year.
For headless shell on, March imports were up 9%, and year to date are up 16.1%. Indian shrimp shipments were up 85.%, as the momentum from their surge in production continues. Also Indonesia and Vietnam increased their shipments, by 64.1% and 22.1% respectively. Thailand's production is still quite low, and their US shipments were down 21.6% for the month.
For the first three months, India is up 33%, Indonesia is up 23%, Vietnam is up 78%, and Ecuador is up 23%.
Ecuador, Indonesia and India account for 53% of all HLSO imports.
IN other categories, peeled imports were up 22% in March and 8% for the year to date; cooked shrimp were up 23%, and 7.9% for the year to date, with Indonesia and Vietnam making up the shortfall from Thailand.
Taking all categories together, total US shrimp imports were up 12.6% in March, and are up 14% on the year, after the first quarter.
The Urner Barry white shrimp price index is now down 8.4% from January, and based on the index, average shrimp price have fallen back to where they were in August of 2013.
In Thailand, exporters hope for a recovery in the second half of the year, as farmers are still very cautious about stocking. However, total Thai production is expected to increase 37% for the year, as we reported in April.
At the moment, we see strong production in India, Ecuador, Indonesia, and Vietnam, all who appear to be increasing their production and shipments to the US. We see a recovery in Thailand in the second half of the year, and we see a lower import demand from China, based on preliminary domestic poduction expectations. Taken together the signs point to a continued normalization of the shrimp market in 2014 as the shortages caused by EMS recede.
At the Brussels seafood show, the falling shrimp prices are very much a topic of conversation.
This story originally appeared on Seafood.com, a subscription site. It is reprinted with permission.