Panel Selects FFAW Price for Shrimp Fishery
July 2, 2020
Today the Standing Fish Price Setting Panel released its decision on the summer price for cold water shrimp and it selected the position of FFAW. According to size distributions, the price this summer for shrimp will be $1.18 per pound over ASP’s price of $0.70 per pound.
COVID-19 has been very hard on the cold-water shrimp market. The United Kingdom is a key market and the serious outbreak in that country significantly reduced the level of cold-water shrimp consumption. As a result, prices are down from this time last year, which is reflected in the summer price for cold water shrimp.
There are signs that the market may be improving as the U.K. reopens, which would be reflected in the market update for the Fall shrimp fishery.
Thank you to the committee for your input and ideas during a difficult week of negotiations.