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March 4, 2015

  United States

Shrimp Prices Plunge

 

Over the last year the shrimp market in the USA has lost about a quarter of its value.  In that same time, the overall strength of the USA Dollar increased compared to most world currencies.  This strengthening of the dollar in 2014 helped soften the blow of the yearlong decline in shrimp prices for major shrimp suppliers like India and Indonesia.

 

Last month Urner Barry’s White Shrimp Index averaged $4.72 per pound.  This was the lowest monthly average for the Index since mid-2013.  Between January 2014 and February 2015 there was a 25 percent decline in the Index’s average monthly price. 

 

As farmed shrimp production increased around the world, prices fell for much of 2014, and USA shrimp imports hit their third highest volume in history at over 1.2 billion pounds.

 

The import gains were driven by Indian and Indonesian, which along with Ecuador, shipped record volumes of shrimp to the USA in 2014.

 

Source: Seafood.com (an online, subscription-based, fisheries news service).  Editor and Publisher, John Sackton (phone 1-781-861-1441, email jsackton@seafood.com).  Strong US Dollar Softens Blow of Weak Shrimp Market for Indonesian, Indian Suppliers.  Michael Ramsingh (phone 1-732-240-5330, email michaelramsingh@seafood.com).  March 3, 2015.

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