UB Consulting: Have Shrimp Prices in the U.S. Reached a Bottom?
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The US shrimp market experienced a downward price trend for nearly 14 months. To provide some context from our previous report, shrimp imports, which account for over 85% of all shrimp supply in the US, increased by 20 percent year over year in 2021. Such a figure represents a significant increase from a record high reached just the year prior when the pandemic caused significant disruptions to how consumers eat shrimp in the US. Therefore, with imports adjusting considerably lower starting in Q2 of 2022 amid falling prices...
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