2004 an eventful year for the Chinese shrimp industry

CHINA - There is no doubt that the major focus of the seafood industry in China during 2004 was shrimp. The US anti-dumping action relating to shrimp imports from China and other countries was a key issue for both the Chinese government and industry.

With market prices for shrimp continuing to decline and exports also decreasing, shrimp producers experienced a difficult year. Nevertheless, consumers in China have never enjoyed such a good taste for shrimp as in 2004 and the product continues to increase in popularity.

Expansion of shrimp production continues in 2004

Preliminary statistics (not yet released) show that shrimp production in 2004 continued to expand. Volumes marketed within China increased following both increased domestic production and a reduction in exports. P. vannamei now dominates both production and markets within China. Other species such as P. chenensis, P. monodon, P. Japonica etc. witnessed a very stable production pattern with, however, depressed prices due to the pressure from P. vannamei.

Further decline in shrimp prices during 2004

Unlike other fish and fishery products, shrimp prices experienced a setback in 2004. Ex-farm prices for P. vannamei decreased to a low of 10-12 yuan/kg, down about 25% compared with prices in 2003. The chart below shows the price trend for P. vannamei throughout 2004 in the FUSHAN SHIWANYU wholesale market in Guangdong Province. Affected by P. vannamei, prices for other major species also witnessed a decline which varied according to the species.

Source: China Fisheries