January 15, 2004

Global Shrimp Prices Hurt By US Anti-Dumping Move

Anti-dumping action by the US Southern Shrimp Alliance has resulted in falling shrimp prices worldwide.

Malaysia Department of Fisheries director-general Junaidi Che Ayub said the world shrimp prices are already at levels as low as those which prevailed 10 years ago.

"It will be under greater pressure if the US Southern Shrimp Alliance wins its anti-dumping case," he told a seminar on "Market Access, Opportunities and Challenges in the Shrimp Industry" in Kuala Lumpur yesterday.

The US group has called for an imposition of a 30 per cent to 267 per cent import duty on all foreign shrimps based on product range.

"As a result of the move, the price of black tiger prawns hit an all-time low and are ranging at levels which prevailed a decade ago. The fear of market glut is looming heavily on shrimp producers worldwide," Junaidi said.

Analysts said the current price fall is due to an oversupply of all kinds of shrimps particularly from China, Thailand, Indonesia, Vietnam, India, Ecuador and Brazil.