Confused about the farmed shrimp market? You're not alone.
Of all the majorly traded seafood species, farmed shrimp is the most difficult to track. Shrimp is also, as of now, the most troubled of the major species.
To help us make sense of it, we spoke with Gorjan Nikolik, senior global specialist seafood at Dutch lending giant Rabobank.
While shrimp was a beneficiary of the demand growth during Covid, the rise in inflation and the decline in disposable income began to erode shrimp demand.
Inventories began to rise in both the US and the EU, and prices have been on an extended slide.
At the end of 2023, China came to the rescue a bit at it emerged from its Covid lockdowns, but China now faces its own set of economic headwinds.
While there are signs of recovery in the US, other markets remain in question, with China being the biggest X factor of all.
How it fits together is complex -- Nikolik breaks it down. Listen to the full interview on this week's IntraFish podcast.
We also hear from IntraFish Correspondent John Evans, who gives us his take on how the Red Sea conflict is impacting shipping prices.