Today, we’re excited to announce the launch of three core shrimp forecasts for farmed white shrimp, available now on Expana, customers feel free to click the links below:
- Shrimp, Latin America, White EBP (Forecast ID: 176)
- Shrimp, Asian, White EBP (Forecast ID: 3647)
- Shrimp, Asian, Raw P&D, Tail-On, White (Forecast ID: 6343)
These new forecasts are designed to help stakeholders across the shrimp industry stay ahead of market trends and plan more effectively for the upcoming season.
2024 Shrimp Market Overview
In 2024, Latin American shrimp prices surged by 26%, reaching their highest levels since 2022. This price increase came despite weak demand and an oversupply in the market. While the price uptick may seem counterintuitive, our analysis suggests that this upward trend is unlikely to continue much longer. With the balance of supply and demand beginning to shift, we anticipate price decreases in the near future.
What’s Ahead for 2025?
Looking ahead to 2025, shrimp prices are expected to decrease as the market adjusts to the supply-demand imbalance. However, there is a key risk on the horizon: the emergence of La Niña.
La Niña, which brings cooler-than-average sea temperatures in the Pacific, could have a significant impact on shrimp production. Shrimp growth is negatively affected by these lower temperatures, and such conditions also create an environment that fosters the development of viruses. This risk of adverse production conditions could put upward pressure on prices despite the general market decline.
Why Shrimp Forecasting Matters
For shrimp traders, sellers, and buyers, understanding the dynamics of shrimp forecasting is essential for mitigating risks and capitalizing on market trends. By using these core forecasts, businesses can make more informed decisions regarding procurement, pricing strategies, and risk management.
Staying ahead of environmental shifts and market adjustments is crucial in navigating an industry that’s constantly evolving. Shrimp forecasting offers a valuable tool for making these strategic decisions and ensuring that your business remains competitive in the marketplace.
Stay tuned for more updates on shrimp prices and the global seafood market by following our insights!
