Shrimp buyers in the US are in wait-and-see mode, wary of today’s unpredictable market, as a price softening trend continues.
What will will happen next is the looming question, considering supplies are set to increase in a market that is already declining.
“A collapse? Maybe not, but the reality is that all of the rules have changed so much that no one can predict anything right now,” a veteran US importer of Latin American shrimp, wishing to remain unnamed, toldUndercurrent News. “With that said, I am holding off on some purchases right now to see if things will continue downward.”
US wholesale prices on this middle size range have been dropping for at least five weeks, sources toldUndercurrent.
This applies to wholesale prices for sizes on 21/25 through 36/40 per pound count shrimp. Meanwhile, 41/50 counts have been dropping for a few days, the source said, adding that for 51/60 “it is unclear what is happening, and anything smaller is still in short supply, so I don’t expect any drops there, at least not right now.”