According to the National Oceanic and Atmospheric Administration (NOAA), the U.S. imported 76,626 tons of shrimp in March 2022, which increased 22% year on year, and the import value was $729 million, which increased 39% year on year. The average import price rose to $9.52/kg from $8.36/kg in the same period last year.  
   
In 2021, the United States imported 896,000 tons of shrimp products, which increased 20%, and imports exceeded $8 billion, which increased 24%.  imports have increased in 34 months out of the last 39 months, as U.S. inventories continue to build , the pressure on sales follows.  
   
In terms of shrimp supply, global production is still growing, especially in Ecuador, where more and more white shrimp are exported to the United States, creating fierce competition for other farming countries.  
   
In terms of import prices, the price of shrimp in The United States in March was weaker than the previous two months. The price of Indian white shrimp decreased by $0.05/kg to $9.54/kg, the price of Indonesian white shrimp decreased by $0.15/kg to $9.57/kg, and the price of Vietnamese shrimp decreased by $0.14/kg to $10.98/kg.  Thai shrimp prices fell by $0.56/kg to $11.12/kg, only Ecuador prices rose $0.12/kg to $7.87/kg.  

   
Travis Larkin, president of North Carolina-based wholesaler Seafood Exchange, said the U.S. market is likely to remain weak as supplies increase.  "A lot of white shrimp is being rejected from China, not only Ecuadorian producers, but also some other exporters, and it all ends up going to the United States.  With inflation slowing US economic growth, you can easily imagine what's going to happen."  
   
Kevin Tang, CEO of Sunnyvale Seafood, also agrees.  "I don't see prices going up for at least the next three months," he said. "Every month the U.S. imports are going up, and our monthly import forecast is going up exponentially."  
   
"Limited cold storage capacity in the US, combined with disruption to shipping schedules due to the war in Ukraine, has extended the time it takes for imported shrimp products to reach consumers' tables from their place of origin.  imports have continued to rise over the past few months, forcing retailers to order more products, and the problem for the market is that too much can't be absorbed in a short period.  But we have to speed up sales and do whatever it takes to reduce inventory.  "We expect most US importers to reduce their orders in response to the oversupply."  Tang said.  
   
Since March, more and more Ecuadorean manufacturers have been blacklisted by China. "All these products need to find new buyers," he said.  The cost of farming in Ecuador is also rising, with the war in Ukraine adding to the cost pressure.  
   
Tang doesn't expect the South American white shrimp market to rebound until fall, as early as August, when U.S. retailers prepare orders for holiday demand.