European Customers Show More Interest in Latin American Shrimp Than Asian Shrimp

According to Bootsman, Customers are looking for more sustainable routes for the future. He noted that efforts in sustainability from shrimp suppliers are better organized and promoted in Latin America.  

He also pointed out practical reasons for this shift

“I recently visited Vietnam, and they are focusing on value-added products and selling more to Japan.” Additionally, India faces logistical challenges in shipping goods.

Willem van der Pijl, CEO of the Global Shrimp Forum in September 2024, which organized the exhibition, presented EU import data supporting Bootsman’s analysis.

European imports from South and Central America increased by 10% in the first half of 2024 compared to the same period last year, while imports from Asia decreased by 10%. Asian imports also declined in 2023, while imports from South and Central America rose.

Ecuador and Venezuela are the major suppliers, continuing to gain market share. Meanwhile, in Asia, imports from India, Vietnam, Bangladesh, and other Asian suppliers all declined. Overall, van der Pijl forecasts that European shrimp imports will increase by 3% compared to the same period last year, reaching 330,337 tons in 2024. This would be the second-largest volume ever, following 2022. Van der Pijl noted that 2022 saw record-high prices driven by retail demand during the COVID-19 pandemic, while average prices in 2024 have reached historic lows.

Source: vasep.com.vn

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