EP 608 | AIRED 09/26/2022
Argentine Red Shrimp: Less Shrimp, Higher Prices, More STPP Soaked Product
Sep 26th, 2022 - The Shrimp category continues to dominate as the most consumed seafood in America.
And with that, the popularity of Wild Caught Argentine Red Shrimp follows suit, with consumers often comparing its texture and flavour with similarities to Lobster.
However, as this year's (Argentine Red Shrimp) fishery winds down (and buyers prepare for the Holiday Season), Only about 50 percent of what was harvested last year, has been harvested (to date) this year.
In catching up with Federico Angeleri (a Director with Group Veraz), he says the seasons are getting more intense but shorter, and that the season will probably finish up sooner again this year.
Although the freezer trawlers have been able to maintain their harvest and processing as usual, the fresh fleets are getting less yields and landings compared to previous years.
Demand for land-frozen products (especially for Headless Shell-On for reprocessing overseas) is very good and he actually thinks the industry will not be able to fulfill it this year.
On the contrary, demand for sea-frozen products is low and sales of Head-On Shell-On are far and in between.
In his opinion, there is going to be an increase in the price of value-added items (since the price of raw materials keeps increasing every season).
And that we will probably see more STPP soaked products in the market - because of the price increase, it's inevitable if the market can't absorb a price increase on the final product.
However, Head-On Shell-On products will probably be very affordable so there is tremendous opportunity to develop new business there.CHECK OUT OUR #WhatsGood CAMPAIGN
Which Seeks To Spotlight Something “Good” Happening In The Seafood World As Opposed To Unfortunate News.
Our recommendation is to develop your Argentine Red Shrimp program especially towards the Fall and Holiday season.
Tradex Foods has over a decade experience in the Argentine Red Shrimp business and is perfectly aligned with some of the best processors to source, produce, and get your product to retail shelves.
--- If you are not already, be sure to subscribe to our Weekly Seafood News Update using the signup form below.