In 2014, a stronger US dollar against other currencies, along with economic recovery helped boost shrimp imports.
In the first 11 months of 2014, Vietnam shrimp imports to the US increased by 47.15% by value and 28.7% by volume. These are the highest growth rates in top 5 shrimp supplier to the US.
US shrimp imports remained strong even when shrimp prices were high and domestic consumption is very huge. Rabobank report stated that in 2014 US shrimp imports increased over expectations.
With big harvests with reasonable prices of whiteleg shrimp, India maintained its leading position in providing shrimp to the US in 2014, although shrimp imports from Vietnam, Indonesia and Ecuador surged.
From January to November 2014, India earned US$ 1.49 billion from shrimp exports to the US, up 40% year-on-year. US shrimp imports from India reached 99,655 MT, up 16% from 2013. This almost doubled of that from Thailand, which stayed at 56,562 MT. It is noted that Thailand accounted for 1/4 of the total shrimp supply to the US in previous years.
India is the top provider of HLSO size 46/55 shrimp to the US, while Indonesia and Vietnam are two main suppliers for frozen peeled shrimp.
US shrimp imports from Indonesia increased by 27.3% by volume and 49% by value in the first 11 months of 2014. Indonesia, therefore, is forecasted to surpass India to be the top shrimp supplier to the US. In Indonesia, aquaculture is attracting great attention and investment from the government. Shrimp production expanded rapidly and there is no anti-dumping duty on Indonesia shrimps exported to the US.
In September 2014, Vietnam shrimp exports began to decline with negative growth until November. This was caused by the final results of anti-dumping duty and a decline in demand and price of whiteleg shrimp in the US.
As increases in the first months of the year covered the decline, shrimp exports to the US by the end of November upped 28.3% year on year. Shrimp export value reached over US$ 1 billion.