EU-UK Shrimp Imports – Market Update Q1 2025
In the first quarter of 2025, the EU-UK region imported 159,231 metric tons of shrimp, marking an increase of 8.5% compared to the same period in 2024 and 10.0% above Q1 2023. In value terms, imports reached €1,115.9 million, reflecting an 18.2% year-on-year rise. The composition of imports remains heavily weighted toward warm water shrimp, which accounted for the majority of the growth. Cold water shrimp imported from outside the EU-UK represented only 4% of the total value and 6% of the volume, whereas warm water shrimp dominated, driven in particular by a 9.0% increase in frozen products. This category now comprises 79% of total imports. Meanwhile, cold water shrimp volumes declined sharply, falling by 26.7% year-on-year.
Among the five leading suppliers, three recorded double-digit growth in export volumes to the EU-UK market. Ecuador, which holds a 31% share, expanded its exports by 26.0% compared to the same quarter last year. India, in second position with a 15% share, saw a 28.7% increase, while Vietnam, accounting for 10% of imports, grew by 13.8%. In contrast, Argentina, representing 11% of the market, reduced its exports by 6.7%, and Greenland, with a 7% share, experienced a 15.4% drop. Both Argentina and Greenland primarily export wild-caught shrimp (Pandalus borealis – Pleoticus muelleri). Argentina’s decline is attributed to disruptions caused by ongoing social movements that have paralyzed fishing operations. Greenland’s lower export volumes are reportedly linked to external factors, including warming ocean temperatures and changes in predator populations, which have negatively affected cold water shrimp biomass.
Other developments of note include a steep 42.0% decline in exports from Venezuela, while Bangladesh and Morocco showed strong performances, with increases of 30.2% and 41.6%, respectively.
Outlook and Market Sentiment – Q2 2025
The second quarter began with a generally quiet tone. In April, buyers across the region adopted a cautious stance, limiting purchases to immediate needs due to growing market uncertainty. This uncertainty was largely driven by new U.S. tariff announcements, which created a wait-and-see atmosphere among market participants.
However, activity seems to have picked up in May during the seafood exhibition held in Barcelona. Industry contacts reported that the event helped facilitate a significant number of deals, with many summer supply contracts concluded at the show. Another supportive factor for importers has been the weaker U.S. dollar, which has improved purchasing power within the eurozone.
Production conditions remain favorable in major supplier countries. Ecuador continues to produce high volumes of Litopenaeus vannamei, and European processors benefit from a more flexible approach to product specifications, which made sourcing cooking-quality shrimp somewhat easier. The main seasonal harvests are now underway in both India and Vietnam. Nevertheless, European buyers are facing challenges in securing smaller-sized vannamei shrimp, as supply in this segment remains tight.
Except for some minor movements noted in April in India, vannamei shrimp market prices have remained relatively stable overall. This pricing constancy tends to be well-received by European market players, who are becoming an increasingly important focus in the global shrimp trade. Today, tense negotiations with the U.S. over a trade agreement prompted President Trump to threaten a 50% tariff on EU goods, with the stated aim of exerting economic pressure on the European Union. The impact of this announcement has already been felt on European stock exchanges, where markets reacted sharply to the heightened trade uncertainty.
Image Source: Getty
Written by Fabienne O'Donoghue
