July 17, 2013

Honduras' shrimp price for export increases significantly

Honduras' national shrimp industry closed the first cycle of the current shrimp harvest with historical economic indicators.

The country's shrimp farmers in the departments of Choluteca and Valle obtained high prices per pound despite the sector is threatened by the possible entry, via land from Mexico, of a disease that attacks shrimp farms in the country.

For example, this year the price per pound of shrimp reaching 12 grams ranges from HNL40 (US$1.90) and HNL45 (US$2.10). And in 2012, each pound of the crustacean was paid between HNL25 (US$1.20) and HNL30 (US$1.40).

These values are the ones paid by the processors for the product that is intended for the export market and a minimum fraction for local consumption.

According to a newspaper report, in percentage terms, the inter-annual increase ranges between 50% and 60%. This increase is due to higher purchases by Mexican entrepreneurs in order to try to meet the demand of the domestic market.

Victor Wilson, president of the National Aquaculture Association of Honduras (Andah), considers that there are several indications that 2013 will be a beneficial year for Honduran shrimp catchers. Apart from a reasonable demand, "quite healthy prices" are added, explained Wilson.

Meanwhile, the Central Bank of Honduras (BCH) reported that the farmed shrimp generated US$167.2 million last year, and for 2013 it may range between US$180 million and US$190 million.

The available data indicate that domestic shrimp production is between 70 and 75 million pounds.