China’s dominance in the global shrimp market creates new challenges for the sector as the country has adopted an increasingly unpredictable buying pattern and the Fukushima nuclear power plant situation in Japan creates concern around domestic shrimp consumption.
Improving growth in the global shrimp sector during the latter half of 2023 will be challenging because China sits on a large inventory of the product, and importers are in no rush to buy more shrimp at current market prices.
“Chinese buyers are very clear on what price they cannot exceed,” Roda International Vice President of Business Development and founder of shrimp forum Vannamei Tips Pablo Resnik told IntraFish during the recent Global Shrimp Forum in Utrecht, Netherlands.
