SEAFOODNEWS.COM [SCOM] Aug 1, 2014 — There are some indications that disappointing production, plus the damages caused by the recent strong typhoon, are pushing shrimp prices higher in China again this year, which could have a global impact.
Amy Zhong reports, via Shuichan News, that the whiteleg shrimp price is certain to increase in Weihai, Shandong during this autumn and the coming spring because of Typhoon Rammasun.
The aquaculture industry in such areas as Zhanjiang and Hainan has suffered great losses with a large number of equipment and ponds inundated in the flood owing to the fierce Typhoon Rammasun. And this will take a toll on the markets of aquatic products in the northern areas of China like Shandong.
For example, now the whiteleg shrimp price has started to rise in Weihai, Shandong. Its price reaches around 72 yuan/kilo ($11.65) for the size of 40 shrimp per kilo, increasing by 5.9% compared with the price earlier.
As a matter of fact, the whiteleg shrimp price has been on the rise in Weihai, Shandong during the first half of this year even before Typhoon Rammasun, according to price data. The above mentioned shrimp’s price ranged between 66-70 yuan/kilo in the market which represents an increase of 70% compared with the same period last year.
The continually high shrimp price here this year mainly results from the fact that there has been a dramatic decrease in the output of whiteleg shrimps from the main production areas like Guangdong, Fujian and Hainan last year owing to the influence of different typhoon. And the output decrease is so drastic in Zhanjiang that many whiteleg shrimp traders in the South China have to go to purchase the shrimps in places like Hebei, which in turn motivates the shrimp price to increase there. And the same phenomenon is expected to reoccur this year.
Looking at China's import and export statistics for shrimp show this trend. Frozen shrimp exports through June are down 13.5%; while imports are up 7.2%.
For fresh shrimp, imports from Thailand through June are down 20%, but this was made up by a surge in official imports from Vietnam, and there is a much larger volume that is not reported in the official statistics.
Ecuador has also increased its sales to China (through May) in the same proportion of as its growth of overall exports, which is about 30% ahead of last year.
in China, reporters feel it is certain that the whiteleg shrimp price will rise in this autumn and the coming spring based on the current situation.
Whiteleg shrimp farmers in the main production areas like Guangdong after the end of this typhoon are being advised to first, monitor and regulate the water quality of their ponds. Second, they should use the hand-picked feed and control the shrimps’ consumption. Third, they need to rid the ponds of the dead shrimps and handle the sick ones in time so as to minimize the losses caused by the typhoon.
This story originally appeared on Seafood.com, a subscription site. It is reprinted with permission.