Who will domain the vannamei market in 2021?
The vannamei market is pretty active in Q1 of 2021. As we all know, Vannamei's main farming areas are in India, Vietnam, Ecuador, China, and Peru. Vannamei mainly exports to the USA, Canada, Mexico, Australia, Japan, South Korea, Malaysia, Singapore, Hong Kong, Middle East Area, etc. So this article will summarize the status of the main source market and finally predict the Q2 of 2021.
Ecuador
Vannamei's market in Ecuador is growing up. The whole export number of Ecuador vannamei is 7% higher than that of 2019. The price of Ecuador vannamei had a sharp drop at the beginning of 2021. Ecuador quickly switched the market strategy for the global market and exported more to the USA market and the EU market. In the Q1 till now, Ecuador vannamei keeps increasing again for the whole two months of January and February.
India
India's market suffered a lot from the pandemic and the strict lock-down policy. The export volume of Indian vannamei 2020 dropped around 12% to 15%. The Indian vannamei suffered a lot from the bad logistic also. At the beginning of 2021, the price of vannamei increased. The Indian government expands the investment in Vannamei farming. The government set a score for reaching the double of the vannamei farming area until 2024, which encourages the vannamei farmers. The next vannamei season will have a significant number of harvests. In Q1, the price of vannamei increased, and the seeding area is more than before.
Vietnam
Vietnam was the most successful vannamei export country in 2020. The export volume keeps increasing in 2020 to the USA and EU. The price of Vietnam vannamei is stable in 2020. The export number is 15% more than 2019. In Q1, Vietnam vannamei price is regular.
China
Chinese vannamei market draws great attention from the global market. In 2020, the import volume of vannamei had an unbelievable drop by 48% because of the pandemic. In Q1, the Chinese domestic vannamei price in the live market is almost four times as Ecuador price and three times as Indian price. The demand in the Chinese market is enormous.
The whole market of vannamei shows a strong signal that the production of vannamei will increase. The 2021 market will have a strong supply of vannamei products. The pandemic situation in the whole world is releasing, and the entire world logistic traffic is also gradually back to normal. In 2021, the price of the vannamei will surely increase due to the feed price, workforce cost, and logistics cost. The demand for 2021 will be much bigger than 2020 since the pandemic's recovery is closer and closer. The future of vannamei is bright, and we will see who will domain the vannamei market in 2021? Exporter: India, Vietnam, or Ecuador? Importer: USA, EU, or China?
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