Day 2: 13 Nov 2019 - 8:50 – 9:10 AM
The conventional pattern in international shrimp trade has changed in recent years , where the Asia/Pacific has emerged as an important and growing market area for supplies from within and outside the region;
In 2018, shrimp imports in the region crossed 1.3 million tonnes , China being at the helm of the market. As of the first half of 2019, China has overtaken USA as the second largest shrimp importer in the world. If we consider the overall consumption of shrimp in China, it is possibly the world’s largest market for shrimp today;
Domestic consumption has also been on the rise in most of the shrimp producing countries in the region, where local prices are often better compared to the external trade;
However, in Japan, formerly the world’s single largest shrimp market, demand has slowed down considerably over the years mainly for raw frozen shrimp , although it has remained steady for processed or value added products;
There is growing demand for semi-processed and processed shrimp in the retail and catering trade in many Asian markets.