IMPACTS OF IMPORTED SHRIMP PRICES ON U.S. SHRIMP DOCKSIDE PRICES
Japan has the highest per capita shrimp consumption, at 7.23 pounds. While the United States ranks second in per capita shrimp consumption. Shrimp has been the most consumed seafood in the U.S. since 2001, surpassing canned tuna. It accounts for a significant portion of all seafood consumed by Americans, more than other popular species, such as salmon and tilapia, combined. U.S. per capita shrimp consumption reached its peak at 5.9 pounds per person in 2021 before slightly declining in 2022.
The U.S. primarily relies on imports to meet this high demand, with approximately 94% of consumed shrimp being imported, mainly farmed shrimp from Asia and Latin America.
U.S. SHRIMP DOCKSIDE PRICE MODELS
The econometric models of U.S. SHRIMP DOCKSIDE PRICES ($/lb) assume that the deflated dockside prices could be explained by:
- Month,
- Year,
- Deflated Gulf wild domestic wholesale prices,
- Deflated imported Asian farmed wholesale prices,
- Deflated imported Latin American farmed wholesale prices,
- Deflated diesel prices,
- Other variables.
The Ordinary Least Squares (OLS) model of U.S. SHRIMP DOCKSIDE PRICES consists of the following dependent variable:Deflated dockside prices ($/lb).
The OLS model of U.S. SHRIMP DOCKSIDE PRICES is estimated by using the robust variance procedure of STATA-19.
The variation inflation factor is calculated to detect the possible presence of multicollinearity.
The marginal impacts are computed using the margins procedure.
YOUTUBE PRESENTATIONS:
Posadas, Benedict C. 2025. Impacts of Imported Shrimp Prices on U.S. Shrimp Dockside Prices. Horticulture and Marine Economics Outreach. Informational Virtual Presentation HME 2025-38. Mississippi State University, Coastal Research and Extension Center, Biloxi, MS. https://youtu.be/UV2qPgoT74E.