Members’ Trade Data Analysis: US June / Indonesia May, Back-to-Back

August 11, 2020

The relationship between Indonesian Pacific white shrimp and the US market is one with much history and recent growth. When the main competitor, India, struggled to maintain production through the pandemic, the COVID-19 crisis saw Indonesia become the US’s top shrimp supplier. Like China/Ecuador, the interdependent relationship between these countries means that you can learn a lot about one, from what is going on in the other.

So far, in 2020, US imports have been higher than in previous years. After a drop in May, June volumes are up again, and only 3% below June 2019. Year to date, US imports are still 2.6% above 2019.

May 2020 data from Indonesia saw a 28% decrease in exports, compared to April and 16% below May 2019. But this decrease was more to do with Ramadan which fell from April 23 to May 23. Exporters pushed as much product out as possible before the holiday, which, with the COVID-19 demand drop, caused export prices to decline.

Comparison of US import volume in 2018, 2019 and 2020

The US food service sector is still undergoing recovery, with a report by Rabobank suggesting that the worst is over for the industry and a 12% to 14% drop over the next 12 months. At the same time, the low prices, expected low availability, and COVID-slowed processing means that US importers have already begun holiday preparations.

Indonesian exports of shrimp in 2018, 2019 and 2020

Production in Indonesia, and imports from the US, are still relatively stable. Indonesia likely continues to hold its share of the US market for the near future.

This summary offers you a sneak peek at the US June / Indonesia May back-to-back. Members, find the full report in your library. It includes a breakdown of price developments and the situation in these countries’ other sources/markets.

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