Global shrimp production to remain high
Shrimp industry is going to develop further in the following years, concluded a panel of experts present at the Global Seafood Market Conference, this week. Major producers along with other countries have increased their production figures in the last few years and the trend is going to stay, informs Seafood Source magazine.
The US cold storage facilities already have 30% more in storage than a year ago and different other countries reported high production figures in 2018 along with new shrimp farms investments.
India, for example, is expected to remain close to its record production volume of 740,000 metric tonnes (MT) and Ecuador has also doubled its production in the last 5 years, from 219,412 MT to 471,026 MT.
Other countries, such as Indonesia, Vietnam, Mexico and Guatemala reported also higher volumes in the last couple of years. In the past, high shrimp producing countries faced the possibility that a disease would cause dramatic reductions in production. Rapid increases in the understanding of genetics and farming techniques have largely mitigated outbreaks in recent years.
Now, it seems that only prices could put a stop to the expansion of the sector, according to one of the experts present at the conference. "The lower prices are definitely tampering some of the expansion plans that some of the farmers have, that some of the plants have", explained Jeff Stern, vice president of purchasing for Censea.
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