Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW

Attack of the shrimp (prices)

Sarah Gardner Apr 16, 2014
HTML EMBED:
COPY

Attack of the shrimp (prices)

Sarah Gardner Apr 16, 2014
HTML EMBED:
COPY

If you’re a shrimp lover, you may be wondering why you’re paying more for your favorite shrimp cocktail or Pad Thai. It’s a bacterial infection ravaging shrimp farms in Southeast Asia called “early mortality syndrome” or EMS. The disease doesn’t affect people, but it kills baby shrimp.

Shrimp farms in China, Vietnam, Thailand and Mexico have all been affected, but production in Vietnam and Thailand has dropped by more than half. Now the U.S. is getting most of its shrimp from India, not Thailand, and the shortage has caused price spikes.

“I would say the import prices went up anywhere from 50 to 100 percent, depending on what the item was,” says Marc Nussbaum, president and COO for shrimp and seafood importer International Marketing Specialists. “Due to this, retailers have moved their prices up.”

And that, dear consumer, is why you may opt for the fettucine alfredo instead of shrimp scampi next time you eat Italian.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.