13 May 2021

ChinaTip #0604

Ecuadorian vannamei shrimp price continues to rise.

Chinese importers are bullish on the market. The purchase cost of Ecuadorian vannamei has repeatedly hit record highs, and factory quotations have been rising. Prices change everyday.

On May 9, the latest quotation from a manufacturer in Ecuador was:

30/40 $6.3

40/50 $5.5

50/60 $5.3

60/70 $5.0 (Brine frozen +0.1$)

Since mid-March, the quotations given by Ecuadorian exporters have been rising and never stopped. The 30/40 and 40/50 specifications have steadily increased, and the large-size quotations exceeded 6$/kg as early as mid-April. The strong recovery of consumer markets in various countries has driven the rise of raw materials.

Although Chinese importers were not very interested in importing shrimp in the first quarter of this year, the total import volume in the first quarter fell sharply by 38%, starting from April, the frozen food market has begun to prepare for the longest holiday in the first part of the year -the May Day holiday. May day holiday has a great stimulus effect on the catering market, and also promotes the distribution of frozen products.

At present, most of the catering industry give priority to the use of frozen shrimp, which avoids the loss and cost caused by the use of live shrimp, and with the large-scale vaccination of covid-19 vaccine, end consumers’ worries about imported frozen products have been relatively reduced.

Although the May Day holiday has passed, importers and distributors are optimistic about the market and believe that prices will increase across the board.

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Categories: Shrimp

Tags: ecuador, Ecuadorian shrimp, vannamei

Ecuadorian vannamei shrimp price continues to rise.

This post was written by: Lily - Senior Analyst

Lily - Senior Analyst

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