Weaker US Dollar Roiling Seafood Imports, Putting Pressure on Lobster, Crab and Shrimp Producers
SEAFOODNEWS.COM by John Sackton August 8, 2017
Suddenly currency swings are back in the news again. After a period of dollar strength, that contributed to record seafood imports of commodities like shrimp and salmon in 2016, the dollar has reversed course, and has fallen about 7% since January of this year against a composite of foreign currencies.
This kind of change in currency values can have a big impact on profitability for overseas exporters to the US.
Take Lobster and Canadian snow crab for example. From May 1st until July 31st, the Canadian dollar has strengthened from $1.35 to $1.25, a change of nearly...
To Read Full Story Login Below.