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Posted Tue Jun 22 2010: from via DesdemonaDespair:
As world prices peak, Vietnam runs out of shrimp to sell
Shrimp prices have spiked since the Gulf of Mexico oil spill, but Mekong Delta production is at a cyclical low. CEO Le Van Quang of Minh Phu Seafood Company says there's been a surge in demand by US shrimp importers since the oil spill disaster cratered Gulf of Mexico production. Prices offered for black tiger shrimp have reached $13 per kilo, an increase of 30 percent over 2009 levels and the highest price seen in ten years. Hot weather and decreased production in competing countries are also pushing prices up. An epidemic has killed 80 percent of Indonesia's farmed shrimp, and 20 percent in Thailand and Malaysia. Production is down in India and Bangladesh too. Seafood companies say that they are missing fat profits because demand has outstripped supply.... Khuan says his company is scouring Ca Mau and Bac Lieu province for more shrimp. It has only been able to buy 40 tonnes per day, though the factory can process and pack 120 tonnes per day.
[Read more stories about: hunting to extinction, corporate farming, ocean warming]
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'Doc Michael says:
I bet the "scouring" will increase next season's harvest!

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