China’s imports fluctuate monthly during the last and first couple of months of a particular year. While imports in January and February dropped 16% year over year, looking at the period in which Chinese New Year Purchases arrived from November to February, imports didn’t drop year over year but were on par.
From November 2024 to February 2025, imports reached 301,370 MT, at par with the same period a year earlier. This time, however, the most considerable volume was imported in November and December, while the year before, the most significant volume was imported in December and January.
The total import value went up to $1.66 billion from November 2024 to February 2025, from $1.50 billion in the same period a year before. This aligns with the upward price trend we have seen through most of 2024 and the start of 2025.
Some more details for the origins in the period from November 2024 to February 2025:
- Ecuador:
- Volume: 218,468 MT = +1%
- Value: $1.11 billion = +11%
- India
- Volume: 43,198 MT = +0%
- Value: $274 million = +18%
- Argentina
- Volume: 7,949 MT = +26%
- Value: $63 million = +43%
- Thailand
- Volume: 8,170 MT = -4%
- Value: $78 million = -6%
- Saudi Arabia
- Volume: 7,785 MT = +10%
- Value: $40 million = +27%
- Indonesia
- Volume: 4,669 MT = +25%
- Value: $28 million = +25%
Regarding the average export value per kilogram of imported shrimp, we can see that while the increase that started in September for India and in October for Ecuador continued through January 2025, once the Chinese New Year began in February, it dropped. Although a drop in value is regular after the Chinese New Year, based on rumors from the market, we should not be surprised to see the average value per kilogram drop further in March 2025.
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