China's imported shrimp market is currently facing significant challenges, with shipments accumulating due to a decline in demand. In the first quarter of 2024, shrimp import volumes dropped by 3%, and import values fell by 15% compared to the previous year.
This downturn is attributed to a cooling appetite for frozen shrimp in China, compounded by an oversupply of cheaper imported varieties. As a result, the market is in a state of stagnation, prompting concerns among importers and producers about the future of shrimp trade in the region.
Citations:
[1] https://twitter.com/undercur/status/1816062858947395667
[2] https://www.undercurrentnews.com/2024/05/09/trade-insights-chinas-q1-shrimp-import-price-falls-to-lowest-point/
[3] https://www.seafoodsource.com/news/supply-trade/china-s-shrimp-market-poised-for-change-as-free-trade-deal-with-ecuador-kicks-in
[4] https://www.linkedin.com/pulse/reflections-2020-shrimp-imports-eu-us-china-willem-van-der-pijl
[5] https://www.intrafish.com/shrimp/are-honduran-shrimp-producers-regretting-new-trade-ties-with-china-/2-1-1596048