Financial Daily from THE HINDU group of publications
Wednesday, Sep 18, 2002
Financial Daily from THE HINDU group of publications Wednesday, Sep 18, 2002 |
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Agri-Biz & Commodities
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Aquaculture Shrimp market remains dull Our Bureau
CHENNAI, Sept. 17 THE market for black tiger shrimps remains dull as Japan has put purchases on hold in the hopes of dampening the market, according to market sources. Prices were ruling around $13.40 per kg 16/20 counts last week with some contracts finalised around $13.60. The market was set to increase further on continued purchases. But buyers opted to stay away with lukewarm demand in the retail centres, and with the yen slipping against the dollar; there has been no incentive to buy. However, the market is not expected to remain inactive for long. The US has commenced purchases at $5.80 per pound 16/20 counts and major buyers are scouting the market, sources said. This was expected to spark some interest and Japan would have to commence purchases soon if the US shows sustained interest, they said. The US is also looking for larger sizes because the Mexican white shrimp is available cheaper in the smaller grades. Black tiger raw material is at high of Rs 420 per kg 30 counts on head-on basis. The white shrimp is ruling around $12.80.
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