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As a result of the flooding and shrimp shortages caused by Cyclone Phailin in the state of Odisha, shrimp prices have surged by 200 percent. Gorachand Mohanty, president of the Seafood Exporters Association of India/Odisha, said, “The price of shrimp was $3.20 a kilogram...this time last year; it is now around $10.07 a kilogram.” In the districts of Gopalpur, Puri, Jagatsinghpur and Balasore, shrimp farmers estimate their losses at $56 million. Over 2,000 hectares of ponds, capable of producing 3,000 metric tons of shrimp were lost, and 2,000-plus farmers, who produced mainly giant tiger shrimp (Penaeus monodon), were affected. Balasore District in northern Odisha accounts for about 80 percent of total shrimp production in Odisha.
Mohanty said, “Exporters are caught between the devil and the deep sea. If they purchase, they will lose and if they abstain from buying, they have to bear the overhead expenses of factories.”
Source: Shrimp News