Thursday, July 14, 2011

Global Economy and Fish Prices:

During the deepest part of the global recession fish farmers around the world found themselves in a predicament. With fewer monetary resources to buy fish for future harvests, compounded by the inability to get a loan from the bank, fish farmers had to cut back on the amount of fish stocks they put into their farms. Now, almost two years later, the time has come to harvest these stocks. With the economy on the rebound we now see that demand is outweighing supply. This pressure on the global fish economy is becoming evident as we watch prices go up, not only in wild species but in farmed species as well. Farmed fish stocks that we know are being affected by the economic uncertainty of the past three years are: salmon, daurade, loup de mer, trout and catfish.
The disaster in Japan is also taking a toll on the fishing industry. Japan as a nation is one of the top suppliers as well as consumers of fish in the world. Soon the products they can no longer harvest from their own country will need to be replaced by substitutes. This cause and effect relationship will probably be felt by all of us as prices on scallops and other seafood items popular in Japan are pushed upwards alongside demand.
Read this captivating article by the Wall Street Journal to learn what other restaurant owners and market analysts have to say about rising food costs:

http://online.wsj.com/article/SB10001424052748703806304576243203052636840.html

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