December 22, 2015

In a recent report, ‘A New Dawn for Prawn’, Rabobank states that shrimp demand in both the U.S. and the EU is better than expected as import values reached records in both markets in 2014 on high demand despite high prices. Based on a high U.S. dollar and strong macroeconomic conditions, Rabobank estimates that the U.S. imported more shrimp than ever in 2014 – importing 405,000 tons, breaking the record set in 2011. The report goes on to state that in terms of value, in the first three quarters of 2014 the value of U.S. shrimp imports reached $4.8 billion.  The EU is on pace to reach 300,000 tons of shrimp imports in 2014 – approaching its record set in 2011 of 325,000 tons. Both the EU and the U.S. were better able to integrate higher shrimp prices compared to Japan where imports fell by 20% in 2014 year on year, after falling 3% in 2013 compared to 2012. To take advantage of the higher demand (which is being attributed in part to soaring beef prices), Indonesia and Ecuador have ramped up shrimp production, however, China, Thailand, Vietnam, Malaysia, and Mexico are all dealing with production challenges.

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