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Ecuador’s shrimp sellers look to US amid China issues by Tom Seaman July 21,2020   |  Source: UCN

The novel coronavirus COVID-19 continues to upend the global seafood trade, reducing foodservice demand and complicating supply chains.

Following the COVID-19-related blocks to three big packers and mandatory inspection requirements by China, the South American country's shrimp industry has turned to its second-largest export destination, the US,
in hopes that it might sell its product there at reduced prices.

A pound of size 21/25 shell-on shrimp that was going for $3.60 just a month ago is now being sold for $3.15/lb, one large East Coast-based shrimp importer told Undercurrent News, adding that there could be even "more bleeding to come if China keeps the pressure on".

Large buyers are reportedly renegotiating prices even as the shrimp is in transit and restaurants are trying to return unused product with concerns about significant write-downs on the value of what they earlier purchased, the source reported.

 

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Theme(s): Post Harvest Technology and Trade.

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