Members’ Trade Data Analysis: China March 2020 SummaryApril 30, 2020
Like Ecuador, China’s March 2020 import data was higher than expected, in spite of COVID-19, and even outperformed March 2019. 52,410 tonnes were imported, almost 74% more than March 2019, however, China also registered the lowest import prices for the last two years averaging at only $5.86/kg.
Despite the unexpected volume increase in March, the COVID-19 did bring the average import price of shrimp down. A lockdown-created drop in demand had many suppliers, including those from Ecuador, pushing their prices down to drive sales. At the same time, a stifled Chinese New Year celebration left stocks in the country high, further reducing demand and the price importers were willing to pay.
We have started to see some recovery in the Chinese market as lockdown measures start to ease and local sources believe that trade will have normalised by May. The questions will be: while Europe and the US are still in lockdown, how much product will be successfully diverted to the reopening Chinese market, from where and for what price?
This update offers you a sneak peek to China’s Trade Data Analysis for March 2020. Members, find the full report in your library, which includes the breakdown of China’s imports by country and volume, as well as the development of prices over the first quarter of the year.
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