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Trade Tracker: Shrimp import value increases 19 percent
Frozen shrimp comprises $4.15 billion
March 01, 2014
The value of the shrimp trade in the United States has grown exponentially in the past few years. From 2012 to 2013, values of shrimp imports increased 19 percent and export values were up 17 percent.
The cost of shrimp has clearly skyrocketed, as total import volumes for 2013 decreased almost 5 percent to 1.12 billion pounds, according to the National Oceanic and Atmospheric Administration’s Fisheries Service.
Frozen shrimp shipments are most heavily imported starting in the summer through the end of the year (from August through December), peaking in October in advance of holiday demand. In 2013, frozen shrimp imports increased by 19 percent and accounted for $4.15 billion of the $4.17 billion total.
Most frozen shrimp comes from India, which increased its shrimp exports to the United States by 81 percent in 2013. More than 70 percent of frozen shrimp imports arrive at the ports of New York or Los Angeles with more than $1 billion worth shipped through each port last year.
Peeled shrimp imports have increased over the past few years. From 2012 to 2013 peeled imports increased by 17 percent, making it a $2 billion industry. Like frozen shrimp, peeled shrimp imports also peaked in October to reach a value of $253 million.
Most peeled product comes from India, Indonesia and Vietnam, all of which have added almost $100 million in exports to the United States since 2012. The port of New York received almost half of the peeled shrimp imports in 2013 while the port of Los Angeles took in another 28 percent. Zepol Corporation is a Minnesota-based company working to provide the most complete and up-to-date U.S. trade data through our subscription tools. TradeIQ™ is a U.S. Customs import Bill of Lading database utilized to find information about competitors, suppliers, prospects, and the products that they use, market, or transport. TradeView™ provides U.S. Census data to visualize the U.S. import and export market. ComplianceMonitor™ is a comprehensive tool that proactively alerts users of essential U.S. import trade compliance information. For more information visit www.zepol.com.
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