Peru could significantly shift its vannemei shrimp exports away from the U.S. towards China after the two countries signed an agreement to allow Peruvian shrimp shipments into Chinese ports.
The recent signing of a sanitary protocol between Peru and China has been a trigger for a new surge in trade between the two countries, according to Chinese publication Dongpin Zhan Lue (Frozen Foods Strategy).
Peruvian Trade Minister Eduardo Ferreyros was quoted by Dongpin as saying Peru has a potential USD 500 million (EUR 424.5 million) market in China, compared to USD 200 million (EUR 170 million) in sales to the US) due to “higher prices and higher demand” in the Asian nation. That’s primarily due to exports of fishmeal, of which China is a significant buyer.
