RaboBank issues optimistic shrimp report for clients, sees 10% global growth in 2014
Rabobank has issued a generally optimistic report for next year’s global shrimp industry finding that expanding global demand will help maintain price levels in 2015. The bank noted that production this year expanded, signaling ongoing recovery from EMS in all the hardest hit countries including Thailand and Vietnam. Still, the report did not completely rule out risk and price volatility for next year’s market. Specifically is the possibility that lower producer prices could halt the supply recovery. This could squeeze producer margins and make expanded production less attractive.
The World Bank’s International Finance Corporation said it will lend $10 million to Regal Springs to help expand its tilapia project in Chiapas, Mexico. Regal’s subsidiary Acuagranjas Dos Lagos will use the funds to further its tilapia farming production and processing capacity to 70,000 metric tons. “The market for tilapia, a healthy source of protein, is growing rapidly. Our investments in Mexico will help us meet this demand in a sustainable way,” said Myrtle Turnquist, CFO at Acuagranjas Dos Lagos/Regal Springs.
In other news Louisiana’s “Crawfish King” Al Scramuzza predicts there will be plenty of lower priced crawfish inventories around for the upcoming holiday season. "I definitely know we are going to have a crawfish Christmas," the now retired Scramuzza said. "I checked with several stores. Eight out of 10 all have crawfish and that's a good sign."
Finally, Russia’s major crab producers want the Putin Administration to increase their crab quotas in the West Kamchatka shelf, claiming the IUU black market has already cost them $20 million. Earlier this year scientists endorsed a higher quota in the region, a recommendation that was not taken up Russian fishery officials.
To Read Full Story Login Below.