Shrimp farming, harvesting, processing, as well marketing have experienced key significant growth during the past decade. In 1983, about 1,744,000 metric tons (live weight) was reported yearly. Global production of farm-raised species and ocean-caught and a projected 2,100,000 tons in was produced in 1988. This total was contributed to Nearly 100 countries. Commercial quantities that were big enough to enter the international trade scene were produced by about 60 nations. The Global shrimp market continues to grow due to its 54% utilization by the three prime markets: the United States, Japan and Western Europe of the world’s live weight production in 1988 and this is in contrast with 46% in 1983.
For the most part, Ocean shrimp resources have reached their greatest yearly limits in production. Shrimp farm streams have however, recently managed to provide additional supplies and this is set to continue. Cultured shrimps have an important role to play in the future market. Indeed, even the recognized traits of the markets have been altered.
Global shrimp market has a leader known as the U.S as approximately 25% of the global annual supply is utilized by the U.S. About 30-35% of the national shrimp supply requirements is produced by the U.S fishermen albeit heavy domestic production. Annual importation of large quantities of foreign caught fish is therefore required to supply this market.
And during the past two decades, there has been a significant change that has been experienced in the annual shrimp production in the U.S., both from wild catch and from shrimp farming. There is no likelihood either that there will be future increase in the total annual landings’ in the United States in the future, as there has been an overstretch to nearly all known shrimping grounds. Thus, the annual landings fluctuations of tropical shrimp are attributed principally to the rates of survival of each of the young shrimp.
No doubt that shrimp farming is here to stay and the numbers of shrimp produced are going to have to keep climbing to keep up with demand. This spells significant opportunity, not only for nation’s in close proximity to the U.S., but for those with an entrepreneurial spirit right here in the states where the demand is.