White Shrimp Import Market: Industry Changes with Volume and Price Falling Together

Volume and price double drop: weak market demand and pressure on supply side

According to the data, the import of white shrimp in the first seven months of 2024 showed a significant trend of volume and price decline. Although the import volume of white shrimp in July 2024 increased slightly by 4% compared with June, the import volume continued to decrease month-on-month throughout the first half of the year (February to July). Cumulatively, by the end of July, the total import volume from January to July had decreased by 10% compared with the same period last year, reaching 516,000 tons.This change directly reflects the weak trend of Chinese market demand.At the same time, the situation of import value is more severe. Although the value of goods in July increased by 5% compared with the previous month, except for the temporary high growth brought about by the Spring Festival effect in January, the rest of the year showed a contraction of more than double digits. From January to July, the total value of imports fell sharply by 23% to US $2.478 billion.

Average Unit Price Decline: Dual Effects of Cost Reduction and Market Adjustment

Further analysis, the average unit price of white shrimp imports also showed a significant downward trend.Average unit prices fell 12% year-on-year in July to $4.77 per kilogram, while average unit prices fell 14% year-on-year for the entire first half, or $788 per ton.This change is influenced by price fluctuations in international markets and reflects increased bargaining power due to weaker domestic demand.Ecuador, as China's largest supplier of white shrimp, has undoubtedly exacerbated this trend by increasing production and export pressure from the United States 'double-opposition policy.

Industry reshuffle: challenges and opportunities coexist

In the face of the market environment of falling volume and price, the white shrimp industry is experiencing a profound reshuffle.On the one hand, traditional white shrimp importers and distributors are facing unprecedented pressure. The floating losses since 2023 have gradually turned into real losses, and some enterprises have to adjust their business strategies or withdraw from the market.On the other hand, this also provides development opportunities for emerging market formats.The influx of low-priced white shrimp urges retailers, e-commerce platforms and other channels to accelerate the layout, and explore new growth points by optimizing supply chain and improving operation efficiency.

Looking ahead: market adjustment and transformation and upgrading

In the long run, the volume and price decline in the white shrimp import market is not entirely negative.It is not only the result of market self-regulation, but also the opportunity for industry transformation and upgrading.With the diversification and quality improvement of consumer demand and the continuous improvement of domestic supply chain, the white shrimp industry is expected to usher in a healthier and more sustainable development.Enterprises need to strengthen brand building, improve product quality, and expand sales channels to adapt to market changes and seize new development opportunities.