Judging by this week’s price, the price of Ecuador’s shrimp producers may hit the lowest point this year.
This is the price of 1.4 kg of vannamei shrimp from a small Ecuadorian factory: 30/40 for USD 5.1/kg, 40/50 for USD 4.6/kg and 50/60 for USD 4.3/kg.
Meanwhile, compared to last week’s price, the factory price of Santa 20/30 and 30/40 plummeted $0.5/kg, and the price of count 40/50 plummeted $0.3/kg. kg. Compared to the price in the same period last month (before and after October 10), the difference between the 20/30 prices is 1.1 dollars/kg. It is conservatively estimated that in just one month, the difference in cost of an imported container from Santa is 140,000 CNY.
Looking at the current situation of the Chinese market, there is too much inventory of domestic products in China, and many catering markets are closed. At present, the main effort of Chinese importers is focused on liquidating inventory goods and paying less attention to the price lists of foreign manufacturers. Also, due to financial pressure, they are more careful when placing orders.
According to the latest raw shrimp situation this week, the purchase price of raw materials in Ecuador and India fell considerably. The main reasons for the decline in shrimp raw material price in Ecuador, India and elsewhere are understood to be low market demand, inflation and local currency devaluation.