Siam Canadian US shrimp demand slows but Indian raw material prices firm : Nov 10, 2017
US demand for Indian shrimp has slowed but raw material prices are mainly firm due to full sales books, shrimp trading company Siam Canadian said in a market update.
But, India shrimp suppliers report prices for 30 pieces per kilogram head-on shell-on, have moved up INR 10/kg ($0.46/kg), due to lower availability.
“Shrimp exporters are seeing that demand from US has slowed down but most processors still have many contracts remaining on the books for shipments during November and December. and thus raw material prices are remaining mostly firm at this time,” said the firm, which is based out of Thailand but has operations in India.
Shrimp exporters and processors in Andhra Pradesh are procuring large quantities of raw material from shrimp suppliers in Odisha and Kolkata as prices there are currently lower than Andhra Pradesh, said the firm. They’re also obtaining raw material from the west coast, such as Gujarat and Maharashtra.
“This gives an indication of the substantial volumes processors in Andhra Pradesh need to cover for their pending contracts.”
As regards Chinese demand, Siam noted strong attendance of India shrimp exporters, processors and shrimp suppliers at last week’s China Fisheries & Seafood Expo at Qingdao.
“They are largely reporting that demand from Chinese domestic market for India shrimp is strong, in part because sizes of current landings in India suit market requirements there…. We expect that China demand for India shrimp will remain active at least until middle of December.”