Even in the controlled environment of shrimp farming, Mother Nature can intercede to cause difficulties that are felt worldwide.
In spring 2011, severe flooding in Thailand washed away nearly 60,000 metric tons of shrimp, representing about 8 to 10 percent of that country’s annual exports.
Shrimp importer Mazzetta Co. in Highland Park, Ill., has partnerships with shrimp producers in Thailand, Vietnam and Indonesia, says Jeff Goldberg, VP-sales. The massive floods from a monsoon delayed the second quarter harvest in Thailand, says Goldberg, and additional flooding also occurred later in the year, but this had less of an impact on the industry.
The United States imported more than 447 million pounds of shrimp from Thailand in 2010, and through October 2011 import totals stood at 330.7 million pounds. Thailand is the leading source of U.S. imports, followed in 2010 by Ecuador with 143 million pounds, Indonesia with 134.4 million pounds and Vietnam edging out China with 106.4 million pounds and 105.8 million pounds, respectively.
Click here for an update on U.S. shrimp import figures, now available for all of 2011 >
Vietnamese farmers were able to overcome some disease issues with tiger shrimp, while Indonesia continues to recover from its own white spot problems dating back to 2008, says Goldberg. India has also contributed some supply in Southeast Asia to help balance the losses from Thailand.
Even with all of the issues within Southeast Asia, Goldberg says Mazzetta avoided supply problems, in part because it had inventory on hand.
Prices started strong in 2011, then weakened but rebounded toward the end of the year as Vietnam came to the end of its season, says Goldberg.
The buying power of Europe and China, along with some supply issues in Mexico, has kept prices high overall, says Eric Bloom, president of Eastern Fish Co. in Teaneck, N.J.
Click here to read the full story from the February issue of SeaFood Business magazine >
