Monday, June 21, 2010

Do you like Seafood? Do you think prices will rise? There is good news for you!!!

I had no idea that we imported this much seafood to meet domestic demand and so little of our domestic demand is met with Gulf seafood...

Impact on Seafood Prices Is Limited

""The Gulf of Mexico oil spill is pushing up prices for shrimp and oysters from those waters but having limited impact on the larger U.S. seafood industry.

  Here's why: The U.S. imports about 83% of its seafood and just 2% of domestic supplies come from the Gulf. 
 That's no comfort for Gulf fisheries, of course, which have been devastated by the spill that has gone on for two months now.  The average wholesale price of Gulf brown shrimp has jumped by more than half since before the spill as fishing restrictions have closed down large swaths of the once-prolific fishery. Oyster prices are up 33% over the same period, according to Urner Barry, a company that tracks commodity prices, including seafood..But because imports dominate the market, consumers and retailers will not likely see dramatic changes in pricing or availability unless they are specifically looking for Gulf products, Mr. Gibbons said. Case in point: 90% of shrimp is imported and prices for those should decline as production is expected to increase through June and July.." Rest of story HERE
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