Domestic shrimp prices fall 30% to 50% in China due to heavy harvesting of ponds
SEAFOODNEWS.COM [CAPMA] Translated by Amy Zhong July 17, 2014
A flood of white shrimp coming into the markets in China has sent the domestic price plummeting, reports CAPMA (China Aquaculture Products Marketing Assoc.). They say in June that the output is great while the sales are disappointing.
Since the late May the whiteleg shrimp price has plunged and it has decreased by about 10-20 yuan/jin for the size of 40 shrimps per jin (roughly 1 lb). The farmers have sold a large quantity of their shrimps owing to the concern about the potential losses which possibly results from the prevalence of diseases at the early stage.
This has led to a flood of shrimp coming into the markets of Zhongshan, Xinhui, Jiangmen and Shanwei so far.
Although the price is only 19 yuan/jin for those whose size is 40 shrimps per jin in Dongguan, there is only a very limited demand for these whiteleg shrimps. And with the increase in the shrimp supply, its price is in decline in various areas.... (more)
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