'Southeast Asia's shrimp price, which is often used as a benchmark, is about $17 per kilogram, around 60% higher than five years ago.'
'Disease, however, has become a major problem for Southeast Asian shrimp farms. In 2013, farms in Thailand, a major supplier, were hit. Consequently, Thailand's annual output roughly halved from the normal level of 500,000 tons.'
'Recovery has been slow and other shrimp farms in the region have been affected by disease, resulting in tight supply. The main cause of the outbreaks is believed to be overpopulation -- growers are trying to raise too many of the crustaceans in their aquaculture pools.'
"Virus-borne diseases are more likely to spread when the shrimp population is severely stressed," said Takashi Suzuki, representative of Farm Suzuki, a shrimp grower in Hiroshima Prefecture. The tighter supply has also been caused by growing demand around the world -- Japan is no longer the single dominant shrimp buyer.'
'Just like beef and grains, shrimp consumption in China has more than doubled over the past decade, in line with income growth. Demand in the U.S. and Europe has also been rising steadily, as more people become health-conscious. Today, the U.S. is the world's No. 1 shrimp importer, with Japan third.'
'The uptrend in global seafood consumption is expected to continue. "Seafood is a growing industry around the world," an official in charge of the seafood business at trading house Mitsui & Co. said. "Consumption of shrimp and other seafood will keep on rising in the future."
