Australian prawn industry hoping to lure domestic customers as export prices dip

Published 2024년 9월 17일

Tridge summary

Australian wild-caught tiger prawn exports have seen a significant price drop, falling from AUD 36.68 to AUD 28.41 per kilogram within a year, leading to a 3% decrease in the industry's annual value to AUD 484 million. This decline is due to lower catches and international prices. In response, fishing companies are promoting domestic consumption, and there's been a rise in the domestic popularity of tiger prawns despite aquaculture contributing to lower prices. However, wild-caught prawns are preferred by consumers for their superior taste and texture, as noted by Queensland Ocean World Seafood Market Owner Peter Adams.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Wild-caught tiger prawns have long been a lucrative Australian export, but in the past two years, the prices they fetch worldwide have dropped substantially. According to the Australian Fisheries Research and Development Corporation (FRCD), prices for Australian prawns dipped from a high of AUD 36.68 (USD 24.27, EUR 22.28) per kilogram in 2023 to as low as AUD 28.41 (USD 19.17, EUR 17.26) per kilogram in 2024.That per-kilogram price drop has resulted in a 3 percent drop in the overall value of Australian prawns to AUD 484 million (USD 327 million, EUR 294 million) annually, according to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), which attributed the decline to lower catches and lower international prices.According to ABARES, 4,464 metric tons (MT) of Australian prawns were exported globally in 2023; this year, the number is expected to drop to around 4,100 MT.These downward trends have fishing companies encouraging Aussies to eat more ...

Source: Seafoodsource