After the epidemic, shrimp prices rebounded strongly in the global seafood market. As shrimp farming has the characteristics of small investment, quick results, and short cycle, many shrimp farmers in the main producing areas that have benefited from high shrimp prices have increased their farming in the second and third seasons of this year. As a result, the global shrimp industry supply has increased significantly, and it is expected that competition in the shrimp market may intensify in the future.
In the Chinese market, the consumption of domestically farmed live shrimp is still sluggish. Recently, in the Pearl River Delta region, even if the supply is scarce, the price of shrimp is still weak. Even though the impact of the epidemic on the catering industry has dissipated, the market and consumption of vannamei shrimp have not improved significantly. In July, the average price of size 40 live shrimps was only around 15 yuan.