Rabobank predicts a collapse in world prices for shrimp
'Ecuadorian producers see the collapse in prices and understand that they cannot supply the market with more than it is ready to consume'
(WORLDWIDE, 8/10/2023)
Shrimp consumption worldwide dropped sharply in the first half of 2023, due to inflation and the general economic downturn. Experts' forecasts about the growth in demand for this product in China after the removal of coronavirus restrictions in this country also did not materialize. As a result, suppliers have accumulated significant stocks, which is likely to lead to an even greater drop in prices in the future, according to a Rabobank report, cited by the All-Russian Association of Fisheries Enterprises, Entrepreneurs and Exporters (VARPE).
“Prices for shrimp are likely to fall even lower due to a further decline in demand from China, coupled with continued growth...
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