U.S. imports hit a new record, but shrimp exports from many countries suffered

In recent days, the statistics released by the national oceanic and atmospheric administration (NOAA) have shown that in March, India and Ecuador exported to U.S. shrimp.

India's shrimp exports rose to 51.4 million pounds in March from 41.2 million pounds in the same period last year, while Ecuador's rose to 48 million pounds from 38.5 million pounds. Both countries' combined exports to the U.S. so far this year are about 5,000 tons higher than in 2023.

However, this growth trend may face challenges. The Commerce Department's latest preliminary countervailing duty ruling, issued in April, could have an impact on shrimp imports for the rest of 2024, with big exporters such as Ecuador, India and Vietnam all subject to tariffs.

At the same time, shrimp exports from countries such as Indonesia, Thailand, Mexico and Argentina have declined. Indonesia's exports of shrimp to the United States plunged to 21 million pounds in March from 30 million pounds a year earlier, while Thailand's fell 25 percent. Mexico and Argentina also saw their exports fall by 25 percent or more each.

In the first quarter of this year, the United States imported 401.7 million pounds of shrimp, slightly higher than the same period in 2023. That's close to 2021, but down from 486.8 million pounds in 2022. Experts said that although the export volume of shrimp in some countries has increased, the adjustment of tariff policies may have a profound impact on the global shrimp trade pattern.