Argentina welcomes bumper harvest season for red shrimp, but inventory pressure raises market concerns

Argentina's red shrimp fishing has entered a bumper season, with record-breaking fishing results, but insufficient international market demand has led to a backlog of inventory, bringing uncertainty to the industry's future development. According to El Chubut Daily, as of now, the catch of red shrimp has approached 50,000 tons, and it is expected to exceed 70,000 tons by the end of January, far exceeding the annual average in the Chubut region. Gustavo Gonzalez, chairman of the Chubut Yellow Ship Owners Chamber of Commerce, said that the fishing grounds are in very good condition this season, with the catch in November alone reaching 24,000 tons and approaching 20,000 tons in December. However, weak global market demand is emerging, especially the economic downturn in Europe, which has led to low reference prices and limited demand for small-sized red shrimp. With the emergence of small-sized red shrimp in mid-January, commercial pressure may be further intensified. At the same ...