Members’ Trade Data Analysis: Indonesia April 2020 SummaryJuly 2, 2020
Indonesia’s trade data for April shows that the country’s exports have continued to go strong, despite the global struggles with COVID-19. A total of 22,729 tonnes was exported in April 2020, a 20% jump on March 2020 and 40% higher than April, last year. At least part of this spike can be explained by Ramadan, which fell from April 23 to May 23, this year. Many Indonesian exporters tried to push as much product as they could, ahead of the Ramadan period. When combined with COVID-related demand drops, the average price paid for Indonesia’s exported shrimp also dropped.
Currently, some Indonesian farmers are in the process of a partial harvest, with harvest expected to go at full swing by September or October. Looking at the September harvest and the current price trends, as Indian farmers are also expected to harvest in September, this could push the prices further down, especially since Indonesia and India both compete in the US market.
As the US market has shown its preference for convenient and easy-to-prepare meals (particularly since the COVID-crisis), we anticipate that the demand for peeled frozen and value-added imports will continue. In these challenging times, this could be an advantage of Indonesia’s export basket.
This summary offers you a sneak peek at Indonesia’s Trade Data Analysis for April 2020. Members, find the full report in your library, which includes the breakdown of exports by country and price developments over the first quarter of the year.
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