West Coast shrimp suppliers concerned about prices
Oregon cold water shrimp processors and fishermen are concerned about prices and other challenges expected to impact the season that starts on 1 April, 2017.
“2017 will be a difficult year for West Coast shrimp,” said Lori Steele, executive director of the West Coast Seafood Processors Association. “There are a number of significant challenges affecting the market and pricing.”
Lower catch volumes in 2016, slower sales and a carryover in inventory have all led to a supply imbalance, according to the WCSPA. In addition, the strong U.S. dollar versus a weak British pound following “Brexit” are also contributing to price weakness.
While an estimated one third of West Coast shrimp is exported to other countries, the strong U.S. dollar in 2017 means that processors will have to sell more shrimp domestically.
In 2016, prices dropped 6.3 percent to USD 7.50 (EUR 6.95) per pound.
Oregon Trawl Commission Brad Pettinger is also concerned about potential decreased landings throughout the 2017 season, which ends in October.
“We have an El Nino coming this summer,” Pettinger told SeafoodSource. In addition, “For the last six or seven years, we have had great conditions and transitions, and we have not had that yet.”