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Shrimp prices decline on heavy arrivals

Our Bureau

CHENNAI, June 20

BLACK tiger prices have dropped to about $17 per kg 16/20 counts compared to about $17.90 prevailing last week. This follows heavy arrivals at the various processing centres in Andhra Pradesh, according to market sources.

Prices were expected to drop earlier, but because of low inventories in Japan, purchasers had to pick up stocks to sustain back-to-back sales. Importers had to depend on India for larger grades, and this too had helped to prop up prices, said sources.

However, with arrivals on the increase, prices have dropped, and there are no takers at $17 level. This could drop further during the week, according to market sources.

Purchasers said that raw material prices were around Rs. 470 per kg for 30 counts on head-on basis. But with the export prices dropping, this level was not sustainable, and could drop.

Market players said that sea caught whites were holding at $17.80, but the drop in black tiger prices could have a dampening effect.