January 13, 2005

Tsunami May Trigger World Shrimp Price Hike

Global shrimp prices may increase due to the December 26 tsunami's impact on the world's two largest shrimp exporters - Thailand and India.

Many coastal shrimp larvae breeding nurseries in the countries were totally destroyed. According to the president of the Thai Shrimp Association, it would take six months to bring the nurseries back to normal and this means that the shrimp output in Thailand and India will fall, pushing up the price of shrimp exports. He predicted that world shrimp prices would increase about 10 percent.