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Price Boom for Honduras Shrimp

Crustaceans Health Economics +3 more

HONDURAS - Despite the threat of early mortality syndrome entering the country, shrimp farmers of Choluteca and Valle are obtaining historically high prices per pound for their shrimp.

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The price per pound of shrimp (12 grams) is now between 40 and 45 Lempiras compared with 25 and 30 Lempiras last year, reports ElHeraldo.

This is the cost that processors pay for the product that is intended for the export market and local consumption.

In percentage terms, the annual increase is between 50 and 60 per cent.

All this is explained by the strong competition generated by the presence of Mexican buyers in the domestic market, who have found the opportunity to stock up on shrimps to meet the demand of the booming tourism industry.

Victor Wilson, president of the National Aquaculture Association of Honduras (Andah), an umbrella organization of producers and packers, thinks that a number of indicators will be beneficial for the shrimp sector in Honduras in 2013.

According to the Central Bank of Honduras (BCH), farmed shrimp generated 167.2 million dollars in 2012 and this year may it range between 180 and 190 million dollars, based on improved pricing and higher production. Domestic production of shrimp is between 70 and 75 million pounds.