19 May 2021

ChinaTip #0607

The price of Ecuadorian vannamei continues to rise, exceeding $7!

Ecuadorian vannamei, size 30/40 rose another 0.4$, and the factory quotation reached a new annual high.

Seafood Guide learned this week that the latest quotation of a manufacturer in Ecuador was:

30/40 $6.7

40/50 $5.7

50/60 $5.4

60/70 $5.1 (Brine frozen +0.1~0.2$, the quotation is for reference only).

The biggest change of Ecuadorian shrimp this week is the huge fluctuation in the size 30/40. Compared with last week, factory price increased by 0.3 $/kg, closely related to the increase of the price of local raw shrimp in Ecuador. With the recovery of catering markets around the world, the surge in shrimp demand has put pressure on raw material countries such as Ecuador and India. Under the imbalance of supply and demand, shrimp prices have been rising all the way.

The average price of Ecuadorian white shrimp exported to the Chinese market is the lowest among export prices. Although China is the largest exporter of Ecuador, when the supply is less than demand, the local processing plants are more willing to meet the orders from the European and American markets first, because they can get more profits.

Some Chinese importers believe that if the order is placed now, the goods will arrive at the port in July at the earliest, and with the production capacity and consistent habits of foreign factories, it is likely that they will not be able to fulfill the contract on time. Therefore, they believe that the current ordering risk is very high. Therefore, domestic small and medium-sized importers are best positioned to make the purchases. Although this can be less profitable, it can avoid the huge risks caused by price fluctuations, delays in shipping schedules and market changes.

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Categories: Shrimp

Tags: ecuador, Ecuadorian shrimp, india, prices, vannamei

The price of Ecuadorian vannamei continues to rise, exceeding $7!

This post was written by: Lily - Senior Analyst

Lily - Senior Analyst

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