The world has produced more shrimp than it can consume for the last 18 months. With most global economies, including China, slowing down, this oversupply issue seems to be intensifying.
Currently, prices are at or even below the cost of producing those shrimp. In response, major shrimp-producing countries like India and Thailand have temporarily halted shrimp cultivation to help stabilize the market.
However, this surplus of shrimp on the market works to your advantage, as many types of shrimp are now priced between 30 to 50 cents an ounce. Therefore, it’s an opportune time to feature shrimp prominently on your menu for the holidays and beyond.