During January-February of 2014, the total value of US shrimp imports increased 57%, from a total of US$667 million last year to a total of US$1.05 billion this year.

The increase reflects a huge increase in shrimp trade prices, considering volumes jumped a moderate 8.7%, from 77,820 tonnes last year to 84,595 tonnes this year.

The average import price of shrimp, when averaging together all origins, specifications and sizes, was US$8.57 per kilogramme in 2013, and that rose to US$12.41 per kilogramme in 2014 – an increase of 44%.

Averagely, prices in Ecuador increased six percentage points less, at 38%, from an average price of US$7.22/kilogramme last year to US$10/kilogramme this year; while prices in Thailand increased nine percentage points more, at 53%. The average price in Indonesia increased about the same amount as Thailand – 53.7% -- rising from US$9.18/kilogramme in 2013 to US$14.11/kilogramme in 2014.

Vietnam was the only major producer in Asia to increase at a rate below the average, having increased prices 37%, from US$10.50/kilogramme last year to US$14.47/kilogramme this year.

In other parts of Asia, prices increased even more than Thailand. In India, for example, the average price went up 56%, from US$8.79/kilogramme last year to US$13.70/kilogramme this year.

Prices in China were up 46% -- slightly more than the total import average price increase of 44% -- from US$6.26/kilogramme last year to US$9.17/kilogramme this year.

Some of these price increases may be exaggerated due to increases in value added products.