Thaifex 2015 blog: Global shrimp markets quiet and dull : May 21,2015
IntraFish reports on this year’s World of Seafood in Thailand – keeping checking back for the latest news from the show floor.
Dominic Welling – Intrafish
Global shrimp markets quiet and dull
Global shrimp markets are still a little bit quiet in terms of demand from North America, Europe and China, according to Jim Gulkin, managing director of Siam Canadian Group.
“It is starting to pick up a little, but the major retailers and buyers need to start buying,” he said.
There was a heavier inventory in the United States after the New Year and Lent than there normally would be, so it is a quiet, dull market and prices are soft, according to Gulkin.
There is not an abundance of raw material either, so overall production is OK as well, he said.
However, things are likely to pick up soon as retailers need to buy in product for Q3 and Q4 of the year.
At the moment average prices are looking around $3.40 per kilo for sizes 31/40 easy peel, $3.70 per kilo for 26/30 easy peel, and $3.20 per kilo for easy peel 41/50, Gulkin said.
“So they have moved down quite a bit, but they will move up again when buying starts in earnest in around 30-40 days time.
“They will probably then move up between 5-10 percent and remain steady in the third quarter.”
In Europe, things are already starting to pick up as inventories are becoming depleted, however, the exchange rate is also affecting the ability to buy.
Overall, though, Gulkin is not predicting any major fluctuations in the coming months.
Contact us : Siam Canadian Group Frozen Seafood Exporters for more formation: