December Shrimp Imports to China Increase 28% YoY. China Closes 2024 at 916,597 MT, 7% Down YoY.

China closes the year with a four-month upward strike. December imports amount to 90,236 MT, up 28% from December 2024. The year total closes at 916,597 MT, just 7% below 2023 and 5% above 2022. Some details about China’s suppliers provided below:

Suppliers (top five):

• Ecuador
  • December 2024: 63,954 MT = +25%
  • Q4 2024: 170,849 MT = +10%
  • Year-total 2024: 672,658 MT = -3.5%
• India
  • December 2024: 12,916 MT = +36%
  • Q4 2024: 36,107 MT = -1%
  • Year-total 2024: 140,471 MT = -1%
• Thailand
  • December 2024: 2,901 MT = +17%
  • Q4 2024: 7,167 MT = +6%
  • Year-total 2024: 23,247 MT = -11%
• Saudi Arabia
  • December 2024: 4,416 MT = +378%
  • Q4 2024: 5,932 MT = +80%
  • Year-total 2024: 17,633 MT = -4%
• Argentina
  • December 2024: 1,164 MT = -47%
  • Q4 2024: 6,286 MT = -1%
  • Year-total 2024: 17,417 MT = -42%

In terms of prices, the end of the year closed strong with both average import prices from India and Ecuador closing the year with an upward trend. This has most likely to do with strengthened prices for final Chinese New Year purchases and shortage of supply due to strong demand from the EU and US, as well as other markets which the two suppliers have been diversifying to.