Orders fell precipitously. Currency depreciation and inflation hit global consumer confidence hard.
The price of vannamei shrimp generally fell. Weak consumer demand and inflation invade the world.
The external quotation of Ecuador Santa this week was roughly the same as that of last week, and the quotation of the size 40/50 of other Ecuador factories was about 0.2 dollars/kg lower than that of last week. However, some Chinese importers in the industry said that the current quotation of Ecuador manufacturers had some room for price reduction. Therefore, the actual transaction price may be slightly lower than the current quotation.
In other vannamei shrimp farming areas, except for India, where the full size rose slightly, and Vietnam, where the large size (30 heads/kg) increased sharply, the prices showed a decline.
At present, the exchange rate of the US dollar has strengthened, the currencies of various countries have continued to depreciate, and inflation has also invaded many global markets. At the same time, the chain reaction of the Russian Ukrainian war and the European energy crisis is being transmitted to the ordinary people in the corresponding market.
Under the influence of the negative dynamics, the downward trend of consumption power affects all countries in the world indiscriminately.
In China, in the late October of each year, affected by the shipping time, it was supposed to be the stocking season for shrimp products in the Chinese market (the stocking for Chinese new year). According to previous years, Chinese importers tend to actively place orders with Ecuadorian manufacturers during this period, which is often the high point in the annual shrimp trade business of Chinese importers.
However, contrary to previous years, the market of China’s white shrimp industry this year is slightly cold, even cold. The number of Chinese orders received by foreign factories fell sharply this year.
Most Chinese importers are “afraid to place orders”. On the one hand, Chinese importers have enough goods on hand to maintain operation (for a period of time). On the other hand, they feel that there is still some room for the price of foreign manufacturers to fall, and they want to continue to wait and see.