The worst oil spill in American history has resulted in sharp increases in the global price of shrimp, now up 40% to $6.20 a pound in the US — which is the world’s biggest consumer of shrimp and crab. And the spill appears to be just one of the factors driving up shrimp prices; epidemics in Asia and bad weather also get the blame for short supplies.
Vietnam hopes to export $4.5 billion worth of seafood in 2010 after export revenue reached $1.62 billion in the first five months, up 17% while frozen shrimp exports increased 30% — mostly to Europe, China and South Korea. But the US remains the second biggest importer of Vietnam’s tra fish and shrimp, receiving 13,000 tons of tra fish alone so far this year while tuna exports to the US and Canada have increased 500% since 2009.
Currently, black tiger shrimp sell in the range of $3.30 to $5 a pound in the southernmost province of Vietnam.
More on Vietnam shrimp exports