Latest figures from commodity analyst Mintec reveal that prawn prices continued to rise in August following the outbreak of early mortality syndrome on the Pacific Rim.
The availability of prawns is currently low following the outbreak of early mortality syndrome in China, Vietnam and Malaysia, with some reports suggesting Thailand may also be affected.
As a result, prices have continued to rise as demand remains firm overall. Supplies in the short term are now expected to be lower than previously thought, with further price rises expected. However, US demand is currently weak and is expected to remain at its current levels. Consequently, prawn exports to the US have declined, resulting in the greater availability of produce for other markets, such as Europe, helping to alleviate some of the rise in price.