Shrimp Prices Reach 14-Year High

Geo Beats
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According to the United States Bureau of Labor Statistics, the price for shrimp was 61 percent higher in March compared to the same time last year, reaching a 14-year high. A bacterial disease called early mortality syndrome is having devastating effects on the shrimp farms in Southeast Asia, creating supply shortages, which in turn cause the price of shrimp to rise.

According to the United States Bureau of Labor Statistics, the price for shrimp was 61 percent higher in March compared to the same time last year, reaching a 14-year high.

The market is translating to higher prices for shrimp dishes at national chain restaurants like Noodles & Company. and the Cheesecake Factory, at a time when they usually promote seafood dishes for their Christian patrons observing Lent.

A bacterial disease called early mortality syndrome is having devastating effects on the shrimp farms in Southeast Asia, creating supply shortages, which in turn cause the price of shrimp to rise.

Early mortality syndrome kills approximately 90 percent of the baby shrimp that become infected.

It has spread rapidly since 2009, when it was first reported in China, to several countries including Vietnam, Malaysia, Thailand and even Mexico.

Up until last year, Thailand was the largest supplier of shrimp to the US, but after shrimp populations there became infected, exports dropped by 38 percent, so now India has taken over as the biggest exporter of shrimp to the U.S.

Some restaurant chains are keeping their prices the same for now, despite the more expensive market for shrimp.

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