December 20, 2018 — Cheaper farmed shrimp prices are benefitting American retailers and consumers this holiday season.
Prices for imported farmed shrimp have dropped significantly since the summer, and fallen an additional USD 0.30 to 0.40 (EUR 0.26 to 0.35) per pound over the last month.
There are a variety of reasons for the steep drop in prices. Overproduction, heavy inventory in United States’ cold storage, rejections of imported shrimp by the U.S.A., and close competition for vannamei from other suppliers are all impacting shrimp pricing. Shrimp from India, which is the largest supplier to the United States, is especially impacted according to Haroon Chaudhri, director of sales for importer CleanWaterFish.
Delivered duty-paid New York prices on Indian shrimp are as low as USD 3.20 (EUR 2.80) per pound for 30/40s headless, shell-on, and USD 3.65 (EUR 3.19) per pound for 50/60s, Chaudhri said.
“These are much lower than a few months ago, and I see them falling further,” Chaudhri told SeafoodSource.
Shrimp imports to the U.S. rose 8.7 percent in October compared to the same month in 2017, according to National Marine Fisheries Service data, while Indian imports soared 17.2 percent in October compared to last year.