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Article: Buyers reluctant to store big inventory of shellfish as global supply glut rules.(NORTHEAST: SHRIMP)
- Article from:
- National Fisherman
- Article date:
- November 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 Diversified Publications. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Northern shrimp are keeping their biological strength in the Gulf of Maine, and the region's major processor sees some hope for better economic conditions going into the 2009-10 winter season.
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As the stage was set in late 2008 after the financial meltdown, "it was general market conditions and people reluctant to hold high levels of inventory," says Spencer Fuller of Cozy Harbor Seafood in Portland, Maine. "There were also huge inventories from Canada that were held over. They didn't get clear of that until the last month or so," Fuller said in late August.
"There's certainly more stability in the market ... I don't know ...