The effects of heightened demand for shrimp from the Chinese market are being felt globally, states the latest European Price Report published by the Food and Agriculture Organization of the United Nations (FAO). Aligned with tight supplies from aquaculture, Chinese buyers’ attentions have now shifted toward wild-caught shrimp and particularly those of Argentine origin, it said, and repercussions are being felt in other major shrimp markets, including Europe.
Argentina’s shrimp fishing season for areas south of the 41st parallel closed on 31 October and while some vessels have continued trawling in open areas, traditionally the catches in these waters are limited and so most fishers have returned to port for the remainder of the year.
Overall, the 2017 season saw “bumper” catches once again with production exceeding 200,000 metric tons (MT). This total should be raised through the trawler catches in November and December.
However, strong recent demand from China with the approach of its New Year (16 February 2018) has led to a shortage of Argentine shrimp as well as significant price increases, the FAO said. In particular, Chinese buyers have favored the larger-size shrimp.
Until the end of August, the majority of Argentina’s large shrimp had been sold to Europe but now the region is seeing signs of a lack of product availability. Strong Christmas demand from the market is also expected to move prices upwards.
