According to data from General Administration of Customs of China, in the first 8 months of 2024, China imported 610,249 tonnes of frozen warm-water shrimp, worth 2.95 billion USD. This figure decreased by 10% in volume and 21% in value compared to the same period in 2023.
Specifically, Ecuador, China's largest shrimp supplier, recorded a 20% decrease in export value, down to more than 2 billion USD. However, Ecuador still accounted for 70% of China's total shrimp imports, reaching 451,366 tonnes, down 7% compared to the same period last year.
In 2024, sharp decline in China's imported shrimp prices caused difficulties for low-cost shrimp suppliers from Ecuador. Chinese shrimp importers also faced difficulties when they had to suffer losses due to having to sell shrimp at lower prices than purchase price.
Volatile shrimp prices and changes in the Yuan-USD exchange rate have further complicated situation, preventing Ecuadorian suppliers from developing strong brands to increase their attractiveness.
After Ecuador, India maintained its position as the second largest shrimp supplier to China with 94,781 tonnes of shrimp worth US$485 million, up 9% in volume despite a 9% drop in average prices to US$5.12/kg.
Meanwhile, Thailand, third largest supplier, struggled to maintain sales, with imports down 18% in volume and 22% in value. China imported just 14,331 tonnes of shrimp from Thailand, worth US$140 million.
Other countries such as Saudi Arabia and Argentina also saw sharp declines, with shrimp import values down 21% and 50% respectively. Imports from Indonesia also fell significantly due to weak Chinese demand.
Vietnam Association of Seafood Exporters and Producers (VASEP) said that for the whole year of 2024, China's shrimp imports may decrease by 11%, to only 933,083 tonnes, lower than level of more than 1 million tonnes in 2023. The main reason is that China's economic situation is still facing difficulties and domestic shrimp prices are low, making importers more cautious.
According to data from Vietnam Customs, Vietnam's shrimp exports to Chinese and Hong Kong (China) markets continued to recover in August with double-digit growth compared to the same period last year. In the first 8 months, shrimp exports to this market reached 477 million USD, up 21% over the same period last year.
Vietnam's shrimp exports to China in the first 8 months of this year only recorded a decrease in May, recovering from June, with good growth in July and August.
According to data from China Customs, growth rate of shrimp imports into China from Vietnam in August this year was also more positive than shrimp imports from Ecuador.
Vietnam's shrimp exports to China in the last months of this year are expected to recover market's demand for shrimp imports to serve National Day holiday (October 1-7) in this country. In addition, domestic shrimp output in the coming months is likely to be affected by increase in disease after recent storms.

Source: Vitic/ congthuong.vn