China is expected to reduce shrimp imports in the first quarter of 2020

According to data from the International Trade Center (ITC), China is the third largest shrimp import market in the world, accounting for 7.5% of total imports. Shrimp exports worldwide in 2018.

In the first quarter of 2020, China's shrimp imports are expected to decline sharply due to the impact of the COVID-19 outbreak in Wuhan, China at the end of December 2019.

Shrimp imports into China from Ecuador, India, Vietnam, Indonesia and Thailand in the first two months of 2020 all decreased.

Demand in China decreased due to restaurants closed, people restricted travel, tourists were absent; goods circulation, transportation, import and export were delayed.

However, VASEP said that although it is difficult to predict the next evolution of COVID-19, but after this outbreak, it is expected that China's seafood demand including shrimp will increase because of the supply of chicken and meat. pig reduction.

Consumption and import of fresh and live commodities will decline due to warnings about disease risks from live animals, creating opportunities for processed shrimp and frozen products to meet commercial demand. electronics, online purchases of households and retail outlets in the domestic market.

The outbreak of COVID-19, avian flu, swine cholera and locusts will cause China's agricultural production to decline, people's living standards to decline, spending on high-end food to be limited, creating opportunities for affordable product segments like frozen white shrimp.

China's trade was paralyzed by the COVID-19 epidemic, so it introduced a new policy to promote imports by reducing taxes on imported products, including seafood, also creating conditions for shrimp imports. China increased after this epidemic.

According to Economy & Consumer