Top Story: Strong demand means record prices for Gulf shrimp even as import prices ease
Prior to the start of the Louisiana shrimp season, Gulf shrimp prices are at record levels. A slow start to the season may prolong this. Meanwhile, holders of higher priced imported shrimp inventory are discounting and making deals, in anticipation of lower replacement costs. Eventually this will catch up with Gulf shrimp, especially as volumes increase.
Major export oriented tilapia producers in Hainan are increasingly targeting the domestic market. There is a strong market for fillet products in northern china, and the success of the shrimp industry in shifting from export oriented to domestic is a model. The move is also a reaction to the low export prices in 2013, but it means more future competition for Chinese tilapia. It is a great example of how US barriers and erratic pricing push buyers to develop other markets, raising the price of seafood overall.
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