Prawn prices plunge on production upturn

29 March 2015

The price of white leg prawns imported from India dropped in the US by 23 per cent in 2014 as production recovered sharply from 2013, according to Mintec.

Production of the prawn, which accounts for 42 per cent of total production, was severely affected by in 2013 by a disease caused by overcrowding in ponds. The impact was particularly harsh in Thailand, where exports to the US fell 58 per cent. Production also fell in Thailand by 25 per cent to 180,000 tonnes.

However, in both India and Ecuador prawn production rose by 15 per cent in 2014, reaching 300,000 and 245,000 tonnes respectively. Further decreases are expected in prawn prices in coming months, which could cause demand to strengthen, Mintec believes.

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