The Chinese market is one of the biggest influences on shrimp prices. When China is buying, prices rise and vice versa.
Let’s review the current situation of the Chinese shrimp market.
Sales:
The current state of the Chinese domestic market is poor; sell volumes in each location are extremely low, and sales are poor even during the Dragon Boat Festival.
This leads to shrimp prices decreasing.
Covid:
Covid is still affecting daily life in China.
Today, everybody in China is obliged to take a virus test on a routine basis. In Qingdao, we provide this twice a week for free, thanks to government funding. If you don’t, you won’t be able to use the subway or bus.
For example, Beijing has been impacted by the epidemic (currently has confirmed cases every day), and the Beijing Jingshen fish market has already been closed since last month.
However, there is some good news: the government just announced an notice that the restaurants will be reopened orderly in Beijing market.
The Shanghai market has just reopened, but the open markets and seafood markets remain closed. Restaurants can only provide food delivery services.
General Economy:
The economic situation in China is bad, so the consumption capacity is low.
Imported products:
China continues to implement strict measures like they used to, regardless of origin or destination.
The government was rumored to be reducing the blocking period for factories with positive Covid tests in the near future, but this was not confirmed.