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Global Shrimp Prices Sinking

GLOBE - International shrimp prices, which were already depressed before the financial crisis, are likely to weaken further during the course of the year, the UN Food and Agricultural Organisation has said.

The import demand from the European Union, the US and Japan are likely to slow down and prices are likely to weaken further, says TheHindu.

According to the news agency, the EU, which until recently was an exception against the depressed shrimp markets of Japan and the US, has also begun to show signs of weakness.

The volume of shrimp imports into the EU was down 10 per cent during the first half of 2008 to 3,37,600 tonnes.

While France alone was able to increase its purchases, countries such as Italy and Spain registered massive declines, a report by the Seafood Exporters Association of India said.