Markets, tech and investment: How does the future look for the global shrimp sector post-2020?

The Digital Shrimp Forum is underway! Follow along here for brief updates, and interact on Twitter with the hashtag #ifshrimp21.

Technology and 30,000 shrimp feeders

Allan Cooper, business development director at Vitapro, gave one concrete example of the way technology is playing a larger role in global shrimp production. "In Ecuador, for example, if you just go back seven years there were maybe no automatic feeders, and now we have more than 30,000 automatic feeders in Ecuador," Cooper told attendees.

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"We are thinking about technology as the next frontier for the industry," he said.

Fantastic analogy from Bill Hoenig of Delta Blue at the @intrafish Shrimp Forum: 'Salmon is like OPEC -- there's very few places you can produce it.' Meanwhile, farmed #shrimp can be raised in dozens of countries, and is incredibly fragmented #ifshrimp21 https://t.co/MYjMPyUaC2
— Drew Cherry (@drewcherry) February 23, 2021

Talking shrimp RAS

Does RAS shrimp farming have a future? Absolutely, says Bill Hoenig of Delta Blue Aquaculture. But we need to be cautiously optimistic about the systems, he adds. #ifshrimp21 #shrimp
— John Fiorillo (@john_fiorillo) February 23, 2021

Bill Hoenig, VP of Sales & Operations Delta Blue Aquaculture, says home consumption of shrimp will "stick" throughout 2021. #ifshrimp21 #shrimp https://t.co/6LJ0VOM9Al
— John Fiorillo (@john_fiorillo) February 23, 2021

As always, disease the X factor

A new aggressive strain of IMNV is an emerging threat to Brazilian shrimp production, Camanor Produtos Marinhos CEO Werner Jost said.

The strain may have come from illegal imports of brood.

“We have to change the mindset even of the smallest farmers,” Jost said.

The key is getting all parts of the industry to working with healthy broodstock, he added.

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Ecuador eyes new markets in face of China disruption

Ecuadorian shrimp producers are eyeing the South Korean and Japanese markets as they seek to reduce their overwhelming reliance on China.

“Korea is a very good option for us, also Japan and some other important consumers,” Yahira Piedrahita, executive director at shrimp producers trade association Camara Nacional de Acuacultura (CNA).

She also highlighted sharp increases in shipments to the United States and Europe last year.

IntraFish Shrimp Forum: In 2020 there was a big uptake in production and exports from Indonesia with 10% to 15% volume and value growth. #ifshrimp21 #shrimp
— IntraFish (@IntraFish) February 23, 2021

Big potential for Brazil, but big challenges

Value added has always been a weak point for exporting from Brazil, Camanor Produtos Marinhos CEO said.

The South American country is currently not exporting to the EU because of a ban linked to wild caught processing sites.

Exchange rates are currently prohibitive to the US and Brazil is not on the list of Chinese approved importers for shrimp.

How much #shrimp remains in inventory in the US? That question hangs heavily over the market -- Bill Hoenig, Delta Blue Aquaculture says at @intrafish shrimp forum #ifshrimp21
— Drew Cherry (@drewcherry) February 23, 2021

Radical collaboration 'so important'

Radical collaboration is key for the shrimp industry adapting to its new reality, said Allan Cooper, Business Development Director at Vitapro.

Radical collaboration means interacting with industry players, but also relates to collaboration with external organisation such as universities, as well as certification bodies such as the Aquaculture Stewardship Council (ASC).

“We need to not only think about our clients, but also our client’s clients. We really believe in collaboration.”

Cooper also highlighted the importance of embracing digital transformation, and finding more sustainable feed solutions.

The main forces shaping the future of the shrimp industry

There are three main forces shaping the shrimp industry as we move into a new normal, said Allan Cooper, Business Development Director at Vitapro.

Firstly, there is a quest for efficiency, doing more things with less, combined with important structural changes taking place through consolidations.

Secondly there is need for market diversification. “We are not just seeing geographical changes but have to adapt to other new challenges, for example selling more shrimp through different channels such as ecommerce,” he said.

Thirdly, traceability is also a must, Cooper said. “These sum up the main forces pushing us towards a more sustainable evolution,” he said.

3 main forces are reshaping the shrimp industry: Efficiency, market diversification and traceability, Allan Cooper
of Vitapro told attendees at the IntraFish Shrimp Forum These forces are pushing shrimp towards a more sustainable evolution #ifshrimp21 #shrimp
— IntraFish (@IntraFish) February 23, 2021

.@RaboFoodAgri just told attendees at the @intrafish #shrimp forum that there's reason for optimism: 'There's never been a better time to communicate to the market and invest in value-adding' #ifshrimp21
— Drew Cherry (@drewcherry) February 23, 2021

Indonesia on the rise

Indonesian shrimp industry is seeing value growth. The country was the main winner among producing nations because of processing factors in 2020, Rabobank Senior Global Seafood Analyst Gorjan Nikolik.

This was helped by demand from the US for value-added products.

Rabobank Senior Global Specialist Seafood Gorjan Nikolik praised Ecudaorian industry for pivoting to European and US market after the discovery of COVID-19 traces in outer packaging containing shrimp shipped to China.
— IntraFish (@IntraFish) February 23, 2021

Tuesday, Feb 23, 13:00 GMT

IntraFish's Digital Shrimp Forum is underway in minutes, with a panel of shrimp sector experts taking on some of the biggest questions and issues facing the global shrimp farming industry.

The panel features some of the shrimp industry's biggest names including Tunyawat Kasemsuwan, Thai Union Global Innovation Director; Werner Jost, CEO at Camanor Productos Marinhos; Yahira Piedrahita, executive director at Ecuador’s national chamber of aquaculture; Willem van der Pijl, founder at Shrimp Insights; and Bill Hoenig, vice president of sales and operations at Delta Blue Aquaculture.

First up are presentations from Rabobank's Gorjan Nikolik and Vitapro Business Development Manager Allan Cooper.

Don't miss out for what is set to be a lively and dynamic discussion on one of the seafood industry's most important sectors.