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August 30, 2015

United States

Wild-Caught Shrimp Cheaper Than Farmed Imported Shrimp

 

In the United States, wild-caught, domestic shrimp is no longer selling at a premium to imported farmed shrimp!

 

A price sheet from a major USA shrimp distributor lists imported, 16-20-count, raw, peeled and deveined, tail-off Penaeus vannamei at $6.15 a pound, while a USA-based shrimp distributor is currently selling Gulf of Mexico shrimp with identical specifications at $5 a pound.  On average, whole Gulf shrimp is now $1 a pound cheaper than the Ecuadorian shrimp the distributor normally buys.

 

Kurt Johnson, a meat and seafood supervisor for USA-retailer Hy-vee, is purchasing much more wild-caught, Gulf of Mexico shrimp this year due to the price opportunity.  “Absolutely, domestic shrimp is dominating the market, no question.”  He has replaced large volumes of imported shrimp with domestic shrimp this year.

 

In Hy-vee’s case, the savings are passed up the chain to the consumer.  Johnson said Hy-vee is running many promotions on domestic shrimp, and its shrimp promotions are focused exclusively on domestics, not imports.  This is a positive development for Hy-vee, which prioritizes domestic shrimp over imports when it can, although in a normal year, the company relies more on imports since the product is available cooked.

 

Alan Gibson of the Louisiana-based Tidelands Seafood Company said the low prices for its catches are causing some to fear for the industry’s future.  He predicted that more USA fishermen would simply give up fishing if the low price trend is sustained.  “We will come out of this smaller and weaker than when we came in,” Gibson, a fourth generation shrimper, said.

 

Source: Undercurrent News [eight free news reads every month].  Editor, Tom Seaman (undercurrent@undercurrentnews.com).  All Eyes on Rare Domestic Shrimp Market Opportunity as Price Drops Below Imports.  Jason Smith (jason.smith@undercurrentnews.com) and Jeanine Stewart (jeanine.stewart@undercurrentnews.com).  August 28, 2015.

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