At the recent Conxemar Frozen Seafood Trade Show in Vigo, one topic of discussion was Argentine shrimps.  The fishery was 140,000 tons in 2015 and is expected to top 150,000 tons in 2016.

Most of the Argentine Shrimp is sold to China.  According to traders at the exhibition, China has imported about 17,000 tons of Argentine shrimp through August, about the same pace as last year.

The Chinese market seems very interested in all shrimp products from Argentina. Most consumers prefer those finely processed products like the 2-kilo bags of shrimps frozen on the boat. And processing plants show preference to shrimps frozen on shore without head or shells for the convenience of further processing.

There is a reduction in Argentine shrimp export to Vietnam. Large quantities of shrimps used to enter the Chinese market through Vietnam. And the decrease of Vietnam’s shrimp import means a decline in Vietnam’s selling shrimps to China.

The US is also ramping up purchases of Argentine shrimp, especially of peeled product.  Year to date through August, the US has imported 2847 tons of peeled shrimp from Argentina, vs 1100 tons through August of 2015.  At the same time, prices are increasing monthly in US dollars.  Since January prices have come up from a customs average of $3.68 per lb. to $4.45.

The Chinese are also continuing to buy Ecuador Shrimp.   The C&F price of Ecuadorian white shrimps L1 is about US$7.6 per kilo, that of L2 is US$7.2 per kilo, while that of L3 is around US$6.9 per kilo during the past few weeks.

The average shrimp price has increased by about US$1/kilo from the same period last year. This mainly results from the limited shrimp stock in the European areas like Spain and Italy. This is increasing shrimp prices from South America.