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While there are several
reasons for these increases, probably the chief reason has
been the decline in prices for both domestically produced
and imported products.
Catfish production is the largest sector in the United
States Aquaculture industry. Over the last 3 years (1999 to
2001), catfish production has been relatively flat, but it
is expected to rise by 3 to 5 percent this year.
The average price for processed catfish products in 1999 was
$2.34 a pound. In 2000, this price rose marginally to $2.38,
but then fell in 2001 to $2.25 a pound and is expected to
average under $2.10 a pound in 2002. This represents a
10-percent decline in the average price for catfish
production over the last 4 years.
The situation is even more evident for some of the major
imported aquaculture products. Salmon imports in the first 6
months of 1999 were 117 million pounds, a volume that had
grown by 84 percent to 216 million pounds in the first half
of 2002. At the same time, the average price of those
imports was falling sharply. Prices in the first half of
1999 were $2.64 a pound, but by the first half of 2002 they
had fallen to only $1.90 a pound.
This pattern was repeated with shrimp imports. Between the
first half of 1999 and the first half of 2002 imports
increased 77 million pounds (26 percent). Again, the large
increase in import quantity was partially fueled by a strong
decrease in the average price. The average price for all
shrimp imports in the first half of 1999 was $4.06 a pound.
Over the first 6 months of 2002 the average price was $3.52,
a decrease of 13 percent.
While the domestic industry is expected to face strong
competition from imports of foreign aquacultural products
for the remainder of 2002 and into 2003, it will also face
competition from the domestic poultry and livestock
industries. U.S. broiler consumption is expected to reach
record levels in 2002 and remain at that level in 2003.
Prices for many broiler products are currently below those
of a year earlier. Consumption of beef an pork are also
expected to be higher in 2002, however, consumption is
expected to fall somewhat in 2003.
The full
aquaculture report is available from the link below.
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