Shrimp Prices Hit Record High

Major markets affected by major shrimp disease

   

The shrimp market is being hit hard by a disease that’s forced the largest shrimp producers in the world to raise prices.

CNN reports that the three biggest exporters—Thailand, China and Vietnam—are now selling white shrimp for about $6 a pound, a 56% increase from last year. Thailand exports about 30% of all shrimp to the United States and the European Union, but that number is expected to be cut in half this year.

Prices have also gone up in some of the other major markets including Ecuador, India and Malaysia because they unfairly subsidize shrimp and sell it to the United States for an inflated price. The average American consumes about four pounds of the crustacean every year.

Shrimp has many health benefits for humans including the reduction of cholesterol, providing the body with antioxidants and decreasing the risk of heart failure.


Article printed from InvestorPlace Media, http://investorplace.com/2013/08/shrimp-prices-hit-record-high/.

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