Low tide for shrimping industry
Wednesday, June 24th, 2009Author : Biz2Credit Advisor
Like many in the fishing industry, shrimpers have been hurt by rising fuel prices, lower demand, cheap foreign fish imports and the aftermath of Hurricanes Gustav and Ike, according to the Associated Press.
Many shrimping vessels from Louisiana and Alabama that trawl the Gulf Coast have been forced to shut down. Record-high fuel prices in 2008 battered fishing fleets, with fuel accounting for nearly 40 percent of a boat’s total operating costs.
As restaurants have lost customers to the recession, demand for shrimp is also down. At the same time, fishermen must compete with often cheaper imported shrimp from Thailand, Vietnam, Indonesia and China.
“What we need is to get with supermarkets and sit down and say, ‘Look, sell domestic shrimp. Give us a chance again,’” Rodney Lyons, 63, owner of Murdock’s Market in Bayou La Batre, told the Associated Press.
This article was submitted by Katie Kapler, Director of Online Strategy for Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to katie.kapler@biz2credit.com.
Tags: Alabama, fishing industry, foreign fish imports, fuel prices, Gulf Coast, Hurricanes Gustav and Ike, Louisiana, recession, shrimping vessels
