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rapidly.
Rabobank analyst Gorjan Nikolik said this would put Asian white shrimp production and suppliers in trouble
.
While Ecuador's main export market is China, many Asian producers rely heavily on the weak U.
S.
and European markets — 80 percent of Indonesia's production goes to North America and 50 percent of Indian shrimp is sold to North America
.
.
While Ecuador's main export market is China, many Asian producers rely heavily on the weak U.
S.
and European markets — 80 percent of Indonesia's production goes to North America and 50 percent of Indian shrimp is sold to North America
.
Nevertheless, production from white shrimp producing areas in the Asian country will grow by 4%, potentially pushing the region's production to 4 million metric tons
in 2023.
"When you see that demand is weakening and supply is growing, prices go down
," Nikolik said.
”
in 2023.
"When you see that demand is weakening and supply is growing, prices go down
," Nikolik said.
”
As the market cools, many are asking when the market will reach equilibrium
.
Nikolik said it will take about 150 days for supply to respond, but the shrimp farming industry will face difficulties
in the first half of 2023 regardless of when the market settles down.
"It's going to be tough until the market balances again, and it's not going to pick up
quickly after balancing," he said.
”
.
Nikolik said it will take about 150 days for supply to respond, but the shrimp farming industry will face difficulties
in the first half of 2023 regardless of when the market settles down.
"It's going to be tough until the market balances again, and it's not going to pick up
quickly after balancing," he said.
”
The Chinese market is recovering
While other countries may be struggling, China seems poised to continue opening up and flourishing
after the COVID pandemic.
after the COVID pandemic.
According to Rabobank's report, supply growth driven by Ecuador will see American shrimp production exceed 2 million metric tons
by the end of 2023.
Nikolik told the media: "The Chinese market performed well
in the third quarter of 2022.
However, it may be after this winter to see tangible growth figures, and in any case, the Chinese market is still much
better than Europe.
”
by the end of 2023.
Nikolik told the media: "The Chinese market performed well
in the third quarter of 2022.
However, it may be after this winter to see tangible growth figures, and in any case, the Chinese market is still much
better than Europe.
”
