FAO latest report: Global shrimp market split, China's imports decreased, Ecuador's exports under pressure

Global supply pattern: Asia adjusts its farming model, Ecuador's exports fall short of expectations FAO report points out that in 2024, the shrimp demand in the world's two major markets, China and the United States, will stabilize or be lower than the previous year's level. In addition, the continued sluggish prices in the international market will cause global vannamei farming production to basically remain at the 2023 level. It is worth noting that the farming model in South Asia and Southeast Asia is changing. As the price of vannamei has not seen a significant recovery, some farmers in China, India, Malaysia and Vietnam have turned to black tiger shrimp (black tiger shrimp) in order to seek higher market returns. Vietnam's aquaculture production of black tiger shrimp and South American white shrimp increased by 3% and 6% in 2024, reaching 290,000 tons and 894,900 tons respectively. On the other hand, Ecuador, the world's largest shrimp exporter, did not grow as expected in ...