In March 2023, Arctic shrimp imports increased by 61.0% year-on-year, and prices increased by 14.5%; In the first quarter, the import volume was flat, and the import value exceeded 100 million US dollars!
Taking advantage of the rapid growth of China's Arctic shrimp and cold-water shrimp imports in the first quarter of 2023, cold-water shrimp imports continued to grow rapidly in April 2023!
April in the off-season: what is the reason behind the heat?
As can be seen from the table below: China's total imports of cold-water shrimp in April 2023 were 7,099 tons, far exceeding the imports of cold-water shrimp and Arctic shrimp in April of the last five years, setting a record high!
In particular, Canada's performance in April 2023 was very impressive: compared to April 2022, imports increased by 81.1% to 4,874 tons; The value of imports increased by 65.3% to $22.92 million. In April, Greenland's exports of Arctic shrimp to China fell sharply. In addition, Russia exported 404 tons of Arctic shrimp to China in April, returning to the level of the same period in 2019-2021.
Comparison table of China's cold-water shrimp imports in April 2021 (Haiqiao marketing collation)
In April, Arctic shrimp imports are generally in the off-season of the year, which is only better than March after the Spring Festival. But the off-season in April this year is not light, and the monthly import volume of more than 7,000 tons has exceeded the average monthly import volume of 6,000 tons in 2022. What is the reason behind this?
We see this as a victory for the long-termism of the Canadian Arctic Shrimp Producers Association and Seabridge Marketing. Years of continuous and in-depth marketing in China have made Arctic shrimp penetrate into the lives and tables of Chinese people, and Arctic shrimp has increasingly become a seafood for everyone's daily consumption, rather than an ingredient consumed during the Spring Festival and festivals.
Canada's market share reached 68.7% in April, and Montessori shrimp contributed a lot!
In April 2023, not only did China's imports of cold-water shrimp and Arctic shrimp reach a new high, but Canada's market share also reached an unprecedented 68.7%. Are there any other reasons behind this besides the star effect brought by the brand awareness of Canadian Arctic shrimp?
We believe that the surge in Canadian Montessori shrimp exports to China in April 2023 is another major reason why Canada's market share is so high.
As can be seen from the table below, China's imports of Montessori shrimp from Canada reached 3,225 tonnes in April 2023, an increase of 158.4%, far exceeding the 1,248 tonnes in April 2022 and the monthly imports from January to March this year.
Montessori shrimp imports from China in recent April (Haiqiao marketing)
Due to the large increase in Montessori shrimp imports from Canada in 2023, China's imports and imports of cold-water shrimp from Canada increased sharply in April, and the following two monthly charts can clearly show this trend:
Monthly data on China's cold-water shrimp imports from Canada in recent years (collated by Haiqiao)
Monthly data on China's cold-water shrimp imports from Canada in recent years (collated by Haiqiao)
We have mentioned that Montessori shrimp (scientific name Montessori long-fronted shrimp) is a close relative of Arctic shrimp (northern long-fronted shrimp), and grows farther north than Arctic shrimp. Due to geographical and climatic reasons, Montessori shrimp were developed and caught later than Arctic shrimp, and only entered the Chinese market on a large scale after 2020. Among them, Montessori shrimp caught in Canada accounts for more than 90% of the global Montessori shrimp catch.
China Montessori Shrimp Import Data in 2022 (Haiqiao Marketing)
From the above table, we can see that in 2022, China imported Montessori shrimp and peony shrimp from Canada, totaling 12,771 tons, of which Montessori shrimp imports were about 12,000 tons.
China Montessori shrimp import data in 2023 (Haiqiao marketing)
From the above table, we can see that from January to April 2023, China's imports of Montessori shrimp from Canada have reached 7,440 tons, an increase of 40.5% over the same period last year. Canadian Montessori shrimp is increasingly growing into a new force for wild shrimp in the Chinese market.
From January to April 2023, the cumulative import volume was 22,000 tons, and the import value was 150 million US dollars
Everyone knows that 2022 is the year that China's cold-water shrimp and Arctic shrimp imports make history: 2022: China's annual Arctic shrimp imports are 72,000 tons, with an import value of 540 million US dollars! So we don't expect imports to create any new history in 2023.
But judging by the import data from January to April 2023: the first few months of 2023 compared to 2022 not only did not decline, but also became hotter and hotter. In the first four months, the total import volume was 21,944 tons, and the import value was 149 million US dollars, an increase of 11.8% and 27.6% year-on-year. On the basis of the substantial growth in 2022, it is very good to achieve such results.
Cold-water shrimp import data from January to April 2023 (Haiqiao marketing collation)
Finally, we would also like to remind you that the recent international turmoil and the Chinese market is also relatively weak, while we are pleased with the results in April 2023, we also hope that everyone will remain calm, pay close attention to the changes in all parties, and take precautions, so that the import and sales of cold-water shrimp, Arctic shrimp and Montessori shrimp in the first half of 2023 can develop steadily.
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This article is reproduced with permission from the Canadian Arctic Shrimp