In November 2023, the United States experienced a surge in shrimp imports, with data from the US National Oceanic and Atmospheric Administration (NOAA) revealing a notable 11% increase compared to the same period in the previous year. This marks the fifth consecutive month of heightened shrimp imports into the country. The average import price also showed a slight uptick, reaching 8 USD/kg, although still trailing behind last year’s figures by 12%.

Despite the increase in volume, the overall value of shrimp imports for November declined by 2% compared to the previous year, amounting to 567 million USD. The year-to-date data for the first 11 months paints a similar picture, with the US importing 722,743 tons of shrimp, valued at 5.9 billion USD. This represents a 7% decrease in volume and a substantial 19% decrease in value compared to the same period in the previous year.

India continues to dominate as the largest shrimp supplier to the US, with November imports totaling 28,099 tons, valued at 214 million USD. This marks an impressive 32% increase in volume and a 15% increase in value. The average price, however, experienced a decline of 13%. Over the first 11 months of the year, the US imported 273,264 tons of Indian shrimp, amounting to 2.2 billion USD. This reflects a 3% decrease in volume and a 16% decrease in value compared to the same period in the previous year, accounting for a substantial 38% market share in the US shrimp import market.

Ecuador, the second-largest shrimp supplier to the US, faced a contrasting scenario. Despite exporting 188,377 tons of shrimp worth 1.3 billion USD in the first 11 months of the year, this represented a modest 2% increase in volume coupled with a 9% decrease in value compared to the previous year. The average price of Ecuadorian shrimp stands as the lowest among all US suppliers, at 6.77 USD/kg, reflecting a 4% decrease. This led to a notable decrease in revenue for the Ecuadorian shrimp industry, falling short of the set target by 1.5 billion USD in 2023.

Indonesia, the third-largest shrimp source for the US, appears to be encountering challenges in the market. The total volume of shrimp exported in the first 11 months of the year amounted to 133,136 tons, reflecting a 14% decline, with a corresponding decrease of 28% in value, totaling 1.1 billion USD. The average price per kilogram dropped by 17%, settling at 7.49 USD/kg, significantly lower than the previous year’s figures of 9.07 USD/kg.