SHRIMP
United States of America The pandemic was a determining factor in the behaviour of the US shrimp market in 2020. Shrimp sales in the foodservice sector were affected by the lockdown measures with the majority of this business operated under "take away". Subsequently demand for the large sized shrimp weakened but medium and small sizes experienced sales boosts in the consolidated retail trade. Moreover, wholesale prices were stable supported by increased supplies from Ecuador at low prices. Total supply of shrimp in the US market was about 5 percent higher in 2020 compared to the previous year with decreased domestic landings and increased imports. According to the US Census Bureau, shrimp imports totalled 747 775 tonnes valued at USD 6.5 billion, up 6.8 percent in volume and 7.4 percent in value compared to 2019. This set a new record for a sixth consecutive year of rising imports. With lower exports India remained the top supplier while imports increased from Indonesia and Ecuador. The record high imports in 2020 is an extraordinary development in the US market despite the year-long pandemic crisis and tumbling restaurant business. Imports of raw shell-on and processed shrimp increased by 10 and 22 percent respectively. But peeled shrimp imports, a product group generally popular in the catering sector, had a 2.8 percent setback with reduced supplies from all sources but Ecuador (+52 percent; 46 000 tonnes). Imports of processed shrimp in the United States of America increased by 22.6 percent to 179 365 tonnes and held 24 percent share in total shrimp imports during 2020. Demand trend of 2020 also persisted during the first quarter of 2021 and imports increased during January–February of this year China Taking into account the large domestic production of shrimp and shrinking exports, China is the world’s largest market for this product group. Increasingly, any boost in local demand is met through imports. From the second half of 2020 shrimp demand improved in the market, facilitated by rising e-commerce. Restaurant business also improved in the last quarter of the year when the mid-Autumn festivals helped to reduce inventories of imported shrimp. Monthly imports increased in November and December 2020 to replenish stocks for the Lunar New Year in early 2021. Nonetheless, there was a 100 000 tonnes shortfall (-15 percent) in 2020 annual imports, which were estimated to be 700 000 tonnes (including unreported border trade). Ecuador remained the top supplier despite some transitory restrictions on exports to China. Imports from most other sources declined excluding Greenland, Indonesia and Iran. Consumer demand for shrimp in China also improved during the 2021 Chinese New Year. Japan Unlike the other large markets, consumption of shrimp was low among Japanese households affected by the pandemic crisis. Business in the restaurant trade was dull. Subsequently imports in 2020 declined to a two-decade low at 211 940 tonnes. Imports of the popular processed shrimp declined by 6 percent while raw shrimp imports (shell-on and peeled) were 5 percent below 2019 levels. | July 20192021 GLOBEFISH Highlights GLOBEFISH HIGHLIGHTS | 2nd issue
44