According to the latest data from the National Oceanic and Atmospheric Administration (NOAA), the US imported 63,973 metric tons of shrimp in May 2024, worth USD 486 million. While this represents a 3% increase in volume compared to the same period last year, the value of imports actually decreased by 7% due to lower prices.

Ecuadorian Shrimp Shine in May

Ecuador’s shrimp exports to the US saw a significant boost in May, with 19,130 tons worth USD 125.2 million shipped across the border. This represents a 15% increase in volume and a 10% increase in value compared to the same period last year. Ecuador has maintained its position as the second-largest shrimp supplier to the US, accounting for 29% of the country’s shrimp import market share.

India’s shrimp exports to the US showed a mixed performance in May, with a 2% increase in volume but an 8% decrease in value compared to the same period last year. The average price of Indian shrimp imported into the US was USD 3.52 per pound, up 2% from April but down 9% from May 2023.

Indonesian Exports Continue to Decline

Indonesia’s shrimp exports to the US continued their downward trend, with a 15% decrease in volume and a 20% decrease in value compared to the same period last year. This marks the 21st consecutive month of decline for Indonesian shrimp exports to the US.

Vietnam’s shrimp exports to the US have seen a slight decrease in recent months, but are expected to improve as the country benefits from its recognition as a market economy and positive outcomes from the US Department of Commerce’s anti-subsidy investigation. This could lead to increased demand and prices from July and August onwards.

Year-End Demand Expected to Drive Increased Imports

With the typical pattern of US shrimp imports seeing a surge in the second half of the year, it is expected that demand will increase slightly in the third quarter and prices may rise accordingly.