There has been little improvement in Argentina’s sales of wild-caught red shrimp to China this summer, according to the CEO of trading firm Siam Canadian.
“Shipments have really fallen off, both this year and in the last couple of months,” Jim Gulkin told Undercurrent News.
“It was a big buyer, but at the moment there are plenty of offers around for that red shrimp which was going to China.”
He added there was some suggestion the market had “gone off” the product, though he felt it was more likely there has simply been plentiful inventories in China this year.
This tallies with what sources previously told Undercurrent. “There’s been a slight drop [in prices] caused by surplus stock from the previous season, in addition to the oversupply from aquaculture,” a source said early in August. “The most affected are the frozen on-board vessels.”