Mazzetta: Asian shrimp production surge backfiring so far

Shrimp prices began to decline the first of the year, and they will continue to fall throughout the spring, sources told IntraFish.

US shrimp inventories are at near record levels, leaving prices about 5 to 8 percent lower than they were at the close of 2011, said Jeff Goldberg, director of shrimp procurement for US importer Mazzetta. Normally, prices do not begin falling until April, he said.

The price drop comes due to a production upsurge in the major shrimp producing nations of Asia – Thailand, Vietnam and Indonesia, Ernie Wayland, executive vice president with the US importer International Marketing Specialists, told IntraFish.

“There