Saying the imported shrimp market is glutted would be an understatement. Dozens of 40,000 lb containers of farmed white vannamei shrimp roll into our ports across the country each week. The shrimp originate from Thailand, India, Pakistan, the Philippines, Ecuador, and Mexico. Many of these containers would normally be bound for China, but the pace of China’s reopening from Covid this year has been slower than expected.
Incredibly, 16/20 raw peeled tail-on shrimp are priced at less than 40 cents an ounce. The market for shell-on shrimp is in a similar state. How this situation will affect the recently started domestic shrimp season in Texas is yet to be determined. However, we believe that a significant drop in domestic shrimp prices from current levels is almost inevitable. Currently, shrimp is one of the most affordable proteins you can serve. Consult with your Congressional Seafood sales representative to determine what is best for you and your customers.
Prices are subject to change.
7/24/23
