OfBusiness Shrimps Dailies

8th May’23

Price

• Supply prices have remained same as yesterday 30-40 count costing around Rs.360/Kg. 50-60 count stood at Rs.310/Kg. 40-50 at Rs.327/Kg. 60-70 at Rs.295/Kg.

Demand and Supply

• The Demand seems poor last week and this week also the demand seems weak with slight chances of improvement. The US is still holding up the containers at port due to antibiotic issue, Vietnam has slowed the imports as the importers buying raw material locally as the harvesting season on.
• Supply seems to coming back on track after a few days of weather change and the prices are expected to dip a bit as demand seems weak

News

• India, Ecuador and Indonesia are still the top three shrimp suppliers to the US market; in which, imported from India 19,566 tons, equivalent to 43 million. Although it continues to lag behind India in terms of total sales volume to the country, Ecuador’s shrimp exporters became the US’ number one supplier of shell-on shrimp last year, according to the most recent blog post by market analyst Willem Van der Pijl, founder of Shrimp Insights.
• In W17 in the shrimp landscape, it was reported in India, Tamil Nadu’s shrimp hub is facing heavy losses due to a viral disease that has led to the deaths of a lot of crustaceans.

OFB’s Opinion

• The price of the product is likely to increase in the coming weeks due to weak demand caused by exporter concerns about harvest quality and supply disruptions caused by rainy weather in coastal areas.