US Shrimp Imports – Study of Shrimp Market with Shrimp Buyers in USA

19 June 2018
US Shrimp Imports

The United States of America is the top importer of shrimps in the world. Shrimp, which comes under HS Code 030617, is purchased by the US mostly from India. As per Export Genius report on US shrimp imports, the country purchased shrimps at a value of USD 5183 million in 2017, which increased from the previous year. And from Jan-Apr 2018, US imported total 202729 metric tons of shrimps from the global countries. Let’s have a wider look at US import market of shrimps. 

 

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US Shrimp Imports during Jan-Apr 2018


The United States of America continued to build on its epic shrimp inventory in April 2018, as its imports of shrimp increased 13% in first four months of the year as compared to the last year. The country purchased total of 47,589 metric tons of shrimp during April, which represented a 4% increase over the same month in 2017. But that’s not the same pace of growth in US imports of shrimp that was kept during the first three months of the year. Let’s have a look at shrimp imports into the US during Jan, Feb, Mar and Apr 2018.


 Shrimp Imports

Month

Quantity (Metric Tons)

January

61,593

February

47,568

March

45,979

April

47,589

 

This means that January month recorded 20.5% increase, February month recorded a rise of 14.7%, March recorded 12.5% increase and April month recorded 4% increase in US shrimp imports. As per the National Oceanic and Atmospheric Administration (NOAA), the total value of shrimp imports into the US in April 2018 stood at $453 million, which was 3% more than that of $440 million value of the 2017 imports.


Imports of Shrimp into the US in Last 5 Years


US imports of shrimp in 2017 valued at $5183 million, which rose from 2016’s $4558 million. After recording an increase in total shrimp imports in 2014, the figure declined in 2015. Let’s have a look at imports of shrimp into the US in last 5 years.


US Shrimp Imports 

Year

Value (USD Million)

2013

4133

2014

5386

2015

4275

2016

4558

2017

5183

 

Top 10 US Shrimp Import Sources


In 2018 also, India is leading charge of supplying shrimps to the United States of America, which exported 31% more shrimps in first quarter of this year as compared to the last year period. India exported 16,869 metric tons of shrimps in April 2018, 22% more than the same month in 2017. And the country supplied 14,950 metric tons of shrimps to the US in March 2018, 13% more than the same month in 2017.


US’s 2nd largest source of shrimp, Indonesia supplied 11,101 metric tons of shrimp in April 2018, 29% more than in April 2017. It finished the first quarter 21% ahead of its 2017 pace. Let’s analyse US imports of shrimps from top 10 countries with comparison of quantity recorded in first quarter of 2017 and 2018.


 Shrimp Imports into Us

Country

Jan-Apr 2018 (Metric Tons)

Jan-Apr 2017 (Metric Tons)

% Change

India

65,325

49,972

31%

Indonesia

45,412

37,577

21%

Ecuador

24,835

23,308

7%

Vietnam

14,275

13,993

2%

Thailand

14,818

19,066

-2%

China

13,284

11,476

16%

Mexico

6,962

6,441

8%

Guyana

3,461

3,972

-13%

Argentina

3,373

3,489

3%

Peru

3,097

3,576

-13%

 

As per media reports, Indian shrimp industry leaders have suggested that if downward trend in shrimp prices continues for the next two months, a 20% drop in production could be expected this year. In India, prices of shrimp were at close to an all-time low for week 21, but increased in week 22 (May 28-Jun2, 2018). For 100 count shrimp, prices went from INR 165 per kilogram to INR 180 per kilogram, which increases of between INR 10-15 across all sizes.


Similar reports of pressure to reduce production have come from Vietnam, where Vietnam Association for Seafood Exporters and Producers has advised shrimp farmers to ease up. The prices for a kilogram of Vannamei shrimp in the first quarter of 2018 dropped by 10% compared to the same period last year. In April this year, shrimp prices dropped to VND 110,000-120,000 per 70-unit kilo by VND 20,000 per 70-unit kilo. Still, the United States purchased 3,708 metric tons of shrimp from Vietnam in April 2018, 13% more than that of 3,291 metric tons in April 2017.


Ecuador and Thailand similarly have slowed down their shrimp exports to the United States of America. Ecuador supplied 5,079 metric tons of shrimp to the US in April 2018, 22% less than that of 6,488 metric tons in April 2017. The country remains 7% ahead of its 2017 pace. As far as Thailand is concerned, it exported 3,512 metric tons of shrimp to the US in April 2018, 11% less than that of 3,957 metric tons recorded in April 2017. So, Thailand remains 2% off last year’s pace.


Let’s have a look at top 10 countries that supplied shrimp to the US in 2017 with their


US Shrimp Import Sources

Country

2017 Share in Value (%)

India

39.2

Indonesia

18.5

Ecuador

11

Thailand

8

Mexico

6.5

Vietnam

6.1

Argentina

2.2

China

2.1

Peru

1.8

Guyana

1.1

 

US Anti-Dumping Duty on Indian Shrimps


Indian shrimp exporter, Apex Frozen Foods Ltd. doesn’t see the preliminary anti-dumping on the seafood suggested by the US Department of Commerce impacting trade. The United States of America, which is the largest market of Indian seafood, has determined that a certain type of shrimps, particularly frozen warm-water shrimps have been sold at less than normal value, due to anti-dumping duties imposed by the US on Indian shrimps. In lieu of this, the Indian government has suggested an increase in rate of shrimp to 2.34% from earlier 0.84% finalised in September last year. According to the shrimp industry experts, this scenario would not lead to any major disruption in export volumes or impact margins of Indian shrimp processing companies.


According to Export Genius data, India’s shrimp exports to the US rose nearly 49% year-on-year. To meet the expected rise in demand of Indian shrimps in the US, Indian supplier of shrimp, Apex Frozen Foods Ltd. is supposed to increase its capacity by 20,000 million tons of shrimp per annum by the end of June 2018.


Among top shrimp importing countries, the United States is the net importer of shrimps and it majorly purchases shrimps from India. For complete report on US shrimp imports with wider coverage of data columns including shrimp buyers in USA, buy our data now.


To buy our market research report and data, e-mail us at info@exportgenius.in.


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