The third week of June 2024 marked a tumultuous time for the shrimp market in Asia, with prices experiencing significant fluctuations in several key countries. China, Vietnam, Indonesia, India, and Thailand all saw changes that have far-reaching implications for the global shrimp trade, including Ecuador, the world’s largest shrimp exporter.

China’s Shrimp Industry Faces Crisis

In China, the largest shrimp producer and consumer in Asia, prices fell sharply due to an increase in production. Live shrimp prices in some parts of the country reached historically low levels, causing a significant blow to producers’ profits.

In contrast, Ecuador’s shrimp prices have remained stable despite being affected by oversupply. Farmers in the country have had to reduce sales prices significantly due to the surplus.

South Asian Markets Experience Similar Trends

In India, prices are low but supply is improving as more shrimp become available on the market. Indonesia and Vietnam are also seeing price declines due to various factors such as anti-dumping duties and logistical problems, including rising freight rates and a lack of containers. This has led to a reduction in shrimp purchases in Vietnam and price drops for different sizes of shrimp in Indonesia.

In Thailand, prices have remained stable, but demand remains low compared to other countries.