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Sedacca: Shrimp prices expected to fall after global shipping dredges

 Last Update: 2022-04-17
 Source: Internet
 Author: User

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During the Boston exhibition , Jeff Sedacca , the former CEO of Guolian Aquatic America SSC, said in an interview with UCN that under the dual effects of overcapacity and market normalization in the post- epidemic era, international vannamei shrimp prices will drop by about 10% in the next few months
.

"I don't think shrimp prices will collapse for a short period of time, but we will see prices gradually fall back to pre-pandemic levels
," Sedacca said
.

In the aquaculture field, Sedacca has 50 years of working experience.
After leaving Guolian Aquatic, he served as the CEO of Sterling Caviar, a California caviar producer
.

Sedacca said that due to the strong demand a few months ago, many producers are eager to start production to accelerate the filling of the market vacancies, but the global shipping is blocked by the epidemic, and most of the products are actually still at sea.
Many people do not see this and are still producing like crazy
.
Under the combined effect of multiple factors, the price of shrimp will eventually fall, and the market will return to the demand side again
.

　　"Right now, the price is relatively high, which stimulates many people to expand production, and many newcomers enter this market.
By the end of the year, there may be excess production capacity
.
At this stage, sales are not bad, but the inventory is also high.
There are new product additions, and when the shipping is clear, the price may accelerate downwards
.
”

　　"I understand that a lot of people are placing orders when demand is high and shipments are uncertain, and some companies have 100 containers that haven't made it to their destination and either can't get out of India or Vietnam, or are still at sea
.
" Sedacca say
.

　　Sedacca also mentioned that sales in the US online market have experienced explosive growth, and more and more consumers are cooking at home, and this trend continues
.

Exhibition Aquatic Products U.
S.
Epidemic Price

　　"I don't think shrimp prices will collapse for a short period of time, but we will see prices gradually fall back to pre-pandemic levels
," Sedacca said
.

　　In the aquaculture field, Sedacca has 50 years of working experience.
After leaving Guolian Aquatic, he served as the CEO of Sterling Caviar, a California caviar producer
.

　　Sedacca also mentioned that sales in the US online market have experienced explosive growth, and more and more consumers are cooking at home, and this trend continues
.

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