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February 25, 2014

Japan, China and Southeast Asia

Shrimp Prices Soar

 

Because of the Chinese New Year, which began on January 31 and ended on February 22, 2014, shrimp prices in Japan, China and Southeast Asia have been exceptionally high.  The reduction in production caused by early mortality syndrome also contributed to higher shrimp prices.

 

Mr. Chen, a white shrimp (Penaeus vannamei) farmer in Guangdong Province, China, who has been farming white shrimp for over a decade, sold a recent 25,000-kilo harvest of 34-count shrimp for $26.25 a kilo, a record price.

 

He kept his shrimp off the market until the beginning of the Chinese New Year, and his timing really paid off.  According to Chen’s estimate, his net profit on sales of $655,983 was $327,998.  Shrimp farmers who sold their harvests before the beginning of the Chinese New Year got $23.00 a kilo for 34-count shrimp.

 

Sources: 1. Vietnam Association of Seafood Exporters and Producers (VASEP) Website.  Shrimp Price in Japanese Market Through Monday, January 20, 2014.   Kim Thu.  January 24, 2014.  2. Seafood.com (an online, subscription-based, fisheries news service).  Editor and Publisher, John Sackton (phone 1-781-861-1441, email jsackton@seafood.com).  Shrimp Prices Set Record in Guangdong (Translated for Seafood.com by Amy Zhong).  February 24, 2014.

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