Chinese market has strong demand for large-size shrimp. In September, Ecuador exported approximately 21,601mt of Vannamei shrimp to China, a 66% increase from August.
Since mid-October, the prices of foreign manufacturers have increased significantly. The low foreign shrimp production and the current shrimp finishing season ending explain this increase. The next shrimp culture just started to be farmed.
The recovery of China’s catering industry is very optimistic showing and increase for the shrimp demand. The large-size shrimp currently on the Chinese market is relatively in short supply, 40/50 being the best-selling size in China. This is also another reason that pushes the price increase in foreign production areas.
The present import data in China shows large number of purchases. After the depression in July and August and the heavy consumption during the National Day and Mid-Autumn Festival, the inventory in China was gradually consumed and importers could have gather funds. Some importers began to buy in large quantity. The recovery speed exceeded industry’s expectations. However, it still has not reached the quantity of the same period of the last year, which also it creates concerns about the market’s outlook.
Usually, China’s November orders are the largest of the year. The November orders are stocked for the Chinese New Year. However, the date of the coming Chinese New Year will be delayed for almost a month and consequently, the orders will be delayed for December. Therefore, the price’s dynamic of the Vannamei market before the Chinese New Year will depend on the import volume of December.
