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3-Minute Market Insight

EP 682 | AIRED 03/18/2024

Argentine Red Shrimp: Political Instability, Harvest Plummet, Supply Constrained, Price Pressures

March 18th, 2024 - Political instability in Ecuador has led to a decreased supply of shrimp throughout the first quarter of 2024, resulting in a noticeable scarcity of Ecuadorian shrimp in the market.

This shortfall has allowed other suppliers to command higher prices for their shrimp products.

In Spain, the situation is compounded by notably low cold storage holdings of Argentine red shrimp.

Combined with an expected surge in demand during Holy Week (a period that traditionally sees the highest seafood consumption in Spain), has led to an increase in shrimp prices.

The reduced activity in on-land processing further intensifies this upward pressure on prices. Between January and February 2024, for instance, the price of shrimp in Spain increased for all but the smallest sizes.

Argentine Red Shrimp Update

Adding to the complexity, harvest data reveals that despite record catches of Argentine Red Shrimp in December and January, February saw record lows, with landings taking a nosedive to a mere 4,400 metric tonnes.

Landings typically remain low until June, then increase during the summer months, and decrease again until December.


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The previous 3 years yielded catches of about 200,000 metric tonnes.

With cold storage inventories depleting, it's anyone’s guess what might happen next after the fishery gets going again.

Our recommendation is for buyers to secure future supplies of Argentine Red Shrimp while exploring alternative Shrimp proteins such as Wild Caught West Coast Shrimp as its new season begins in April, could provide a valuable contingency against the current instability down south.

Argentine Red Shrimp Update

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