Louisiana’s shrimp industry, which brings in about $1.3 billion annually, is facing a bleak future. Despite the state catching roughly 70 million tons of shrimp, it is not enough to keep up with the increasing demand in America. This has led to a reliance on cheap imports, which make up a staggering 90% of what the US consumes. Most of these imports come from countries like India, where controversial farming tactics are used.
The influx of cheap imported shrimp has resulted in a drastic drop in dock prices in Louisiana, forcing local shrimpers to lower prices in order to compete. As a result, US shrimpers are facing a challenging situation of rock-bottom prices and soaring fuel costs, making it difficult for them to stay afloat. Companies up and down the supply chain are deeply concerned that this may be the last generation of Louisiana shrimpers.
The issue at hand is further explored in the video, which delves into the process of making New Orleans shrimp po’ boys, how shrimp processors operate, and the challenges of running a shrimp boat. The video also sheds light on the problems associated with US shrimp imports, highlighting the struggle that domestic shrimpers are facing in the wake of the influx of cheap foreign shrimp.
As the future of Louisiana’s shrimp industry hangs in the balance, it is evident that urgent action is needed to support local shrimpers and preserve this integral part of the state’s economy. The potential extinction of the $1.3 billion industry serves as a stark reminder of the impact that global trade dynamics can have on local businesses and communities.
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Video “Why Louisiana’s $1.3 Billion Shrimp Industry Could Go Extinct | Big Business | Business Insider” was uploaded on 09/16/2024 to Youtube Channel Business Insider