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Shrimp shortage leads to higher prices

MGN Online Photo
Friday, August 16, 2013 - 9:56am

You may notice soon your shrimp scampi has a heftier cost. Shrimp prices are soaring because of a disease that's hit prawn producers in Thailand, China and Vietnam.

White shrimp prices are up more than 50-percent from a year ago to nearly six-dollars a pound, according to an Index Measure. Analysts expect consumption to drop in 2013 from the four pounds of shrimp per person that the average American eats.

However, another crustacean could fill the void. Lobsters prices have dropped and the average lobster tail is selling at its lowest price in 11 years.

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