Undercurrent Proposes Weekly Price Assessments for Argentine Red Shrimp

Undercurrent is set to introduce weekly price assessments for Argentine red shrimp (Pleoticus muelleri) on a cost and freight (CFR) basis to China. This initiative aims to enhance market transparency within the crucial trade flow between sellers and Chinese buyers prior to shipping.

Comprehensive Coverage of Shrimp Markets

The upcoming UCN price assessments will closely monitor spot prices for transactions involving both sea-frozen (frozen on board) and land-frozen products across major size grades. This data will complement our expanding seafood price assessments and augment existing wholesale pricing available for Argentine red shrimp in European and North American markets.

Detailed Product Specifications

• Origin: Argentina (Southwest Atlantic)
• Species: Pleoticus muelleri (Argentine red shrimp)
• Terms: CFR China
• Product Type: Frozen HOSO (Head-on, Shell-on)
• Processing: Sea-frozen (frozen on board) and Land-frozen
• Size Categories:
  • L1 (10-20 pcs/kg)
  • L2 (20-30 pcs/kg)
  • L3 (30-40 pcs/kg)
  • L4 (40-60 pcs/kg)
• Format:
  • Retail: 1.4-1.8kg per box, 6-10 boxes per pack
  • Foodservice: 12kg per box, 1 box per pack
• Storage: Frozen

Pricing Mechanism

The proposed pricing assessments will utilize spot transaction prices between Argentine exporters and Chinese importers, quoted in $/kilogram on a CFR China basis. Undercurrent‘s assessments will reflect price ranges rather than fixed prices, accounting for variations based on company size, shipment volumes, brand positioning, and freezing method.

The Market Landscape

China stands as a primary export destination for Argentine red shrimp, alongside Spain, representing one of the largest bilateral flows for wild-caught shrimp worldwide. In the previous year, China imported 19,170 metric tons of Argentine red shrimp valued at $156.3 million. This represents a significant increase from the mere 2,124 tons worth $11.6 million in 2012 and a peak of 37,451 tons worth $284.9 million in 2018.

In January of this year alone, Argentina’s seafood exports surged, with red shrimp shipments reaching 14,971 tons valued at $105.9 million, showcasing a year-on-year increase of 51% in volume and 56% in value. Notably, China was the second-largest importer by value, bringing in 12,680 tons worth $43.6 million, closely trailing Spain’s $47 million.

Recent Developments and Industry Boosts

The proposed assessments come at a pivotal time for the Argentine red shrimp sector. In February, the Argentine offshore shrimp fishery received Marine Stewardship Council (MSC) certification, signaling a significant improvement in fishery practices. This certification, following the inshore fishery’s certification in March 2025, is anticipated to enhance the market potential of red shrimp in key European and North American segments.

The fishing season for this year has kicked off, with vessels setting sail from April 15. Furthermore, investment in the sector is on the rise: Continental Armadores de Pesca (Conarpesa), Argentina’s largest shrimp exporter, is expanding its processing capabilities and workforce, with several new freezer vessels added to their fleet.

Market Indicators and Future Outlook

CFR price dynamics for Argentine red shrimp to China serve as critical indicators for the overall market. These proposed assessments will enrich our existing coverage, providing a more complete price discovery chain that includes:

• Ex-works Spain: Monthly assessments for L1 through L4 sizes
• US wholesale: Weekly assessments for various formats
• Wholesale Italy: Weekly assessments for fresh products
• CFR China (proposed): Weekly assessments for sea-frozen and land-frozen HOSO

Feedback and Implementation Timeline

We encourage feedback to ensure this service accurately meets market needs. Comments and inquiries can be directed to [email protected] by May 15. We anticipate launching this pricing reporting service on May 20.

Thank you for your ongoing support. We look forward to collaborating to create a reliable and efficient price reporting service.

UCN Team

Comments (0)