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Our Bureau

CHENNAI, Oct. 22

WITH the year-end festival season around the corner, shrimp purchases are yet to pick up momentum.

Processors are concentrating more on the Japanese market following increased interest and there is relatively less activity in sales to the US and the EU. Exporters hope that purchases by Japan will buoy up the year-end sales, according to market sources.

Prices range around $13 per kg 16/20 counts black tiger. The grade most in demand is the 16/20 count, and buyers have not evinced much interest in smaller grades. However, arrivals from farms are yet to match the demand and material is scarce. Smaller grades are available but there are no takers, they said.

With adverse weather conditions prevailing, shrimp growth in the ponds has not been up to par. Early in the season, adverse weather conditions and disease outbreaks had delayed commencement of the season. Therefore, smaller sizes were more commonly available, sources said.

Packers are hoping that sales will pick up over the coming days. Market information indicates that Japan needs to build up inventories for the year-end festival sales. But this will have to happen by mid-November for the consignments to reach the market shelves. Though retail sales have been low in most markets, the packers are keeping their fingers crossed.

The US prices have ruled low over the last two or three weeks with 16/20 counts fetching about $5.4 per pound. But processors are expecting 10-20 cents more. Therefore, the processing units have shifted their lines to packing for Japan.

Sales to the EU are yet to pick up following the recent problems over the presence of antibiotic residues in shrimp consignments. Packers are going slow over sending materials to Spain, France and Holland. But some consignments were being sent to UK and Germany, they said.

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