Argentine red shrimp supply is in crisis, prices soar past $6

According to industry insiders, the frozen inventory of red shrimp from Argentine fishing companies has been depleted, and cold storage in Europe and Japan is similarly running low. Currently, the large-sized shrimp that can be caught are just in time to fill the market gap, but due to their extremely limited quantity, companies are forced to make difficult allocations between their headquarters in Spain and global customers. "Some customers who were supposed to receive goods in June and July will have to wait until September, and this uncertainty has caused us to lose our reputation as a stable supplier," said Estela Baldini, a representative of Conarpesa. She pointed out that especially in markets like China, Taiwan, and South Korea, building trust takes many years, and now, due to supply disruptions, there is a risk of being replaced. In the context of severe supply-demand imbalance, the price of red shrimp has rapidly rebounded to over $6 per kilogram. The industry generally ...