May 8, 2024

 

US shrimp imports rise in March 2023, India and Ecuador lead export growth

In March 2023, US shrimp imports surged to 139.5 million pounds or 63,269 metric tonnes (MT), up from 129.5 million pounds (58,726 MT) in March 2022, SeafoodSource reported.

 

According to statistics released by NOAA, India's exports to the US increased to 51.4 million pounds (23,312 MT), showing growth from 41.2 million pounds (18,703 MT) in March 2023 but slightly below the 52 million pounds (23,777 MT) shipped in February 2024.

 

Ecuador also boosted its US exports to 48 million pounds (21,754 MT), up from 38.5 million pounds (17,459 MT) in March 2023 and the 37 million pounds (16,911 MT) exported in February 2024.

 

Year-to-date US export totals for both India and Ecuador are approximately 5,000 MT higher than their 2023 totals through March.

 

In contrast, Indonesia's March 2023 US shrimp exports plummeted to 21 million pounds (9,516 MT), down from 30 million pounds (13,602 MT) in March 2023 and 22.1 million pounds (10,013 MT) in February 2024. Indonesia has imported 7,000 MT less shrimp year-to-date in 2024 compared to its 2023 total through March.

 

While India and Ecuador increased their US exports by 24% month over month, Vietnam surpassed them both with a 39% monthly growth, reaching 8.4 million pounds (3,815 MT) in March 2024.

 

However, Thailand witnessed a 25% drop in its US shrimp exports to 2.9 million pounds (1,325 MT), down from 3.9 million pounds (1,784 MT) in March 2023.

 

Mexico and Argentina also saw declines of 25% or more in their US shrimp exports in March 2024. Mexico's exports decreased to 2.4 million pounds (1,095 MT) from 3.5 million pounds (1,606 MT) in March 2023, while Argentina's shipments declined to 2.1 million pounds (973 MT) from 3 million pounds (1,367 MT) in March 2023.

 

Year to date through March, the US imported 401.7 million pounds (182,224 MT) of shrimp, up from 397.6 million pounds (180,351 MT) in the same period in 2023. In 2022, the US imported 486.8 million pounds (220,786 MT) of shrimp, while in 2021, the total was 408.4 million pounds (185,252 MT), and in 2020, the total was 370.5 million pounds (168,111 MT).

 

US shrimp imports may face impacts for the remainder of 2024 due to updated preliminary determinations of countervailing duties issued by the US Commerce Department in April. Ecuador, India, and Vietnam will each be affected by these duties.

 

-      SeafoodSource