Trace the Shrimp!

Map the journey! Choose an origin country to reveal its top shrimp destinations. Click any destination to see every importer.

The global shrimp trade is significantly influenced by the import behaviors of major players like China and the United States.  Fluctuations in their demand can cause ripples throughout the entire industry, affecting production levels and trade volumes worldwide.

Production Trends

Global production of farmed marine and brackish water shrimp was estimated to be lower in the first three-quarters of 2024 compared to the same period in the previous year.  Vannamei shrimp used to dominate supplies, but its production is declining as many Asian producing countries (India, Indonesia, Vietnam and Myanmar) are adopting low-seeding policies for Vannamei and shifting towards farming black tiger shrimp for better financial returns.  In China, Vannamei production from the greenhouse aquaculture sector slowed down in 2024, with the overall harvest volume predicted to be approximately 800,000 tons, compared to one million tons in 2023.

Import and Export Dynamics

Global shrimp trade weakened in both quantity and value during January-June 2024, with estimates of 1.73 million tons and USD 11.62 billion, respectively.  This represents a 3.35% decrease in quantity and an 11.5% decrease in value compared to the same period a year ago.    

Several countries experienced changes in their shrimp exports. Ecuador, India, Vietnam, China, and Thailand saw increases in quantitative exports, while Indonesia saw a decline. However, most of these countries suffered from export revenue losses, except for Vietnam and China, where 50-60% of exports consisted of higher-value processed shrimp.  In terms of imports, China and the United States together held a 48% share of the international shrimp trade in the first half of 2024.  However, both countries saw a decline in imports, with China importing 483,174 tons (-11.2%) and the United States importing 351,341 tons (-2.77%) year-on-year.

Conclusion

The global shrimp trade in 2024 faced a mix of challenges and resilience. Reduced imports in key markets like China and the U.S., and a shift in some Asian countries away from Vannamei shrimp impacted the sector.  However, some exporters increased volumes, and demand remained strong in Southeast Asia and the Far East.  While 2024 saw headwinds, the industry anticipates a gradual recovery.