According to Trademap data, India has consistently been the largest shrimp supplier to the US over the past years. In the past 4 years (2020-2023), Indian shrimp exports to the US peaked in 2021 at 3.2 billion USD.

According to Trademap data, India has consistently been the largest shrimp supplier to the US over the past years. In the past 4 years (2020-2023), Indian shrimp exports to the US peaked in 2021 with 3.2 billion USD.

Ecuador, from being the 3rd largest shrimp supplier to the US in 2020, rose to 2nd place in 2023. From 2020-2023, Ecuadorian shrimp exports to the US have grown continuously in volume, from 126 thousand tons in 2020 to 206 thousand tons in 2023. The value of shrimp exports to the US has also increased continuously from 2020-2022.

The value of Indonesian shrimp exports to the US has grown continuously from 2020-2022. From the second position in previous years, Indonesia gave up the second position to Ecuador in 2023.

Shrimp imports from Vietnam to the US after reaching the 1 billion USD mark in 2021 continuously decreased in the following years.

In the first eight months of this year, Ecuador exported 817,954 tons of shrimp worth US$4 billion, up only 2% in volume but down 6% in value compared to the same period last year. China remains Ecuador's leading shrimp import market.

Shrimp exports to the US reached 17,250 tons worth US$110 million in August, with an average export price increase of 8% per kilogram offsetting a 7% decrease in volume.

Ecuadorian shrimp exports to the US, after growing well in the first months of the year, saw a slight decrease in export volume in August. Ecuadorian shrimp exports to the US in the first eight months of the year were somewhat affected by the impact of the US's preliminary anti-dumping and anti-subsidy duties on Ecuadorian shrimp.

Ecuador's shrimp industry is facing an energy crisis due to its dependence on hydropower and lack of rain. The power shortage is likely to last until December and could affect Ecuador's shrimp production and export activities in 2025.

India’s shrimp exports fell by 18% in August 2024. This could be due to slow stocking due to weather conditions.

The decline in exports in August was mainly due to sharp declines in exports to China (-49%), Vietnam (-65%), Russia (-31%), the UK (-24%) and Japan (-9%). Exports to the US remained unchanged (-1%) and exports to the EU increased (+9%) compared to the same period last year. This could be due to a shortage of raw shrimp.

India’s shrimp exports in the first 8 months of this year were on par with the same period in 2023. In 2023, exports in the second half of the year exceeded expectations, but this year, exports in the third quarter are likely to decline due to slow stocking and difficult weather conditions. Therefore, exports in 2024 may be lower than in 2023.

According to Vietnam Customs, in the first 9 months of this year, Vietnam's shrimp exports to the US reached 566 million USD, up 9% over the same period last year. The average price of shrimp imported from Vietnam to the US increased from 4.59 USD/pound in July 2024 to 4.95 USD/pound in August 2024.

Source: VASEP