River shrimp feel pinch from crab
- Source: Global Times
- [09:04 August 09 2010]
- Comments
A peddler grasps a handful of shrimp for a customer at a seafood market in Shanghai. Photo: CFP
By Li Xiang
The wholesale price of river shrimp in some of the city's markets has reached a historical high of 200 yuan ($29.6) per kilo, as a dip in prices last year drove many producers in the city and neighboring provinces out of the sector for more profitable river crab this year.
"This is all due to contrast in profit margins between river shrimp and river crab," Zhao Yunlong, a professor of East China Normal University who has been researching the field, said.
The wholesale price of river shrimp at Tongchuan Aquatic Product Market in Putuo district, the largest aquatic product market in the city, was 200 yuan ($29.6) per kilo on August 5, while river crab was 60 yuan ($8.9) per kilo.
"Some farmers switched from river shrimp to river crab since late last year, because profits from the crab are many times higher," a producer in Qingpu district surnamed Liu said.
Chi Quanfu, another aquatic produce farmer in Qingpu district, told Shanghai Morning Post that each mu, or 666.7 square meters, given over to river crab production can generate a profit of around 10,000 yuan ($1,477.5), while the profit for the same area given over to river shrimp is about 2,000 yuan ($295.5).
The hot weather has also exacerbated supply problems.
"It is hard to keep river shrimp in such hot weather, and this combined with the high price has scared many buyers away," a vendor at a market on Dagu Road told the Global Times Sunday.
According to another vendor at the same market, ice prices have tripled compared to the same time last year, making storage more expensive.
"The peak river shrimp season has ended. All the river shrimp you can see on the market are those left over from May, while other produce such as crayfish is a better buy at this time of year," an aqua-farmer surnamed Yao in Chongming county told the Global Times Sunday. "With much hotter weather forecast for later this week, river shrimp prices could raise even further," Yao added.
