Frozen shrimp prices soar in Japan
Wholesale prices of imported frozen shrimp are soaring in Japan in the wake of the spread of infecti…Wholesale prices of imported frozen shrimp are soaring in Japan in the wake of the spread of infectious disease in the farming ponds in the Southeast Asian countries since last fall, according to Nihon Keizai Shimbun.
The rise in transaction prices in Japan is also attributed to a combination of the yen's depreciation and an increase of about 20% in the dollar-denominated prices in producing countries. Prices for major shrimp species in Thailand, where shrimp disease outbreaks are most serious, have climbed to yet another all-time high.
Wholesale prices for vannamei -- a species sold most frequently at supermarkets and other mass retailers -- now stand at around ¥800 per 1.8 kilograms (head-off, 13-gram size), which is about 40% higher than at the end of last year, renewing the previous record levels. Industry observers predict that high prices will persist for some time to come, because large supply increases cannot be anticipated in early summer and afterwards.
Indeed, there is a speculation in Thailand that production this year could shrink by 20-30% over last year. The cause of contagion there has not been clarified yet. Since the start of the year, many shrimp farmers have been halting their operations entirely, or at least decreasing stocking. An official of one major Japanese seafood trading firm said that it may not be possible to meet demand for Golden Week in May, usually the second busiest period of the year, a situation he called truly unprecedented.
