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The price of Ecuadorian white shrimp has plunged! 40/50 specifications fell below $5!
On November 10, the quotations of factories in Ecuador's production areas fell across the board. Today’s latest quotation was reduced by 0.2$ as per yesterday and 0.5$ as per a week ago. Up to now: the big manufacturers offer: 30/40 specification $5.21, 40/50 specification $5.05, 50/60 specification $4.81. Small factory offers: $4.8 for 40/50 specifications, $4.6 for 50/60 specifications, and $4.4 for 60/70 specifications.
The price of white shrimp has fallen sharply in the past week, exceeding expectations. Since last Friday, quotations have been falling every day, especially on the 10th. The price of 40/50 from the same factory in the morning was still $5.11, and it became $5.05 in the afternoon. Under the circumstances, the importer is unwilling to place an order because of the unclear market judgment.
The sharp drop in prices indicates that Ecuador’s current inventory is relatively high and it is eager to ship. Whether the price will continue to be reduced depends on the order status of China’s orders. If the number of orders placed this week is still relatively small, the price is expected to fall.
This year, the European market has limited imports in the past two months, and the situation in the United States is not optimistic. China has become the biggest importer for Ecuador. However, due to the rising risk perception of cold chain foods in China, white shrimp importers is hard to place a large number of orders. So the price of white shrimps may fall in the short term.
Coupled with the fact that most of the Ecuador factory contracts still do not bear the return of the disease or the new crown or other accidental losses, the rights of importers could not been protected, and everyone is calm.
The inspection of imported cold-chain foods continues to increase, and the risk of product inspection problems increases.
In the past month, news that imported cold chain foods have been tested positive for the new crown has continued to spread across the country. Positive batches of goods have been returned or destroyed, and the companies involved have suspended declarations for one week. This also means that the import risk of various cold chain transport products such as white shrimp has increased.In addition, the recent positive nucleic acid test of Tianjin cold storage loading and unloading workers has once again pushed cold chain transportation to the forefront. At present, the entire Tianjin Port is still in the suspension stage, and even most cold storages in Tianjin are in a state where they cannot be stored or picked up. The import situation of white shrimp is also very severe. It is not only the fear that this batch of goods will be detected, but the emergence of the Covid-19 in the port or storage location, and all the goods will face the risk of returning. This is also part of the reason why importers in our country are still waiting to see.
Increased risk and opaque market inventory, buyers have insufficient confidence in placing orders
An industry insider said, “Now, the price of white shrimp is falling every day. This price is not a bottom-hunting price. Once the price is lowered, there is still room. In addition, it is difficult to judge the current domestic inventory. According to the data at the end of last year It shows that there is an inventory of close to 100,000. This year the epidemic has affected the demand reduction, but the white shrimp is still imported every month, and the import volume in the first few months has exceeded that of last year. So are last year’s products sold now?"
It is understood that the current domestic first-tier wholesalers have sufficient supply, and a large number of goods are waiting for sale in the warehouse. This inventory is sufficient to control the increase in shrimp prices. The refusal of large wholesalers to place orders is also a major reason for the overall decrease in orders this year.