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Friday, Sep 13, 2002

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Shrimp prices seen higher

Our Bureau

CHENNAI, Sept. 12

BLACK tiger prices are expected to sustain the increase witnessed over the last two weeks, according to market sources.

Prices range around $13.60-13.80 per kg 16/20 counts but compared to raw material prices, which hit about Rs 410 per kg 30 counts on head-on basis, the prices are not viable. Packers are expecting around $14 to match up to the raw material prices. However, some contracts have been finalised around $13.20, but these could be due to prior commitments, sources said.

The importers, particularly those based in Japan, have stayed away from the market over the last few days. Further, major arrivals are expected in the markets in Indonesia. Japan is expected to commence purchases within a day or two.

Raw material prices are ruling high because of lack of availability of material from the farms. The next major arrival could be the second season expected to commence late in October, in time for the year-end demand.

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