The Chinese shrimp import market has undergone a major turning point!

The Global Shrimp Forum (GSF) was held in Utrecht, Netherlands from September 3 to 5. Experts pointed out at the meeting that China's shrimp imports have declined for the fourth consecutive quarter in 2024, marking a new stage of cautious procurement in this huge market in China. According to William Vanderpil, Executive Director of the Global Shrimp Forum Foundation, although shrimp imports reached a historic high of 1 million metric tons in 2023, recent data shows a clear downward trend.

As an important force in the global shrimp market, China's import dynamics have attracted much attention. Van der Piere emphasized that the import strategy of the Chinese market is undergoing a transformation, moving from high-speed growth to a period of stable adjustment. The market differentiation is significant, with China's imports of Indian shrimp increasing by 9%, while Ecuadorian shrimp experienced a 9% decline, and prices also decreased accordingly.

Pablo Resnick, Vice President of Roda International, analyzed that economic pressure has prompted Chinese consumers and importers to adopt more conservative procurement strategies, tending towards small batch, low-risk transactions. He pointed out that Chinese buyers are gradually reducing their dependence on large-scale orders and pursuing profit stability rather than blind expansion.