NET DECLINES BOOST PRICES

Crop failures in various foreign countries have caused shrimp prices to continue climbing upward.

al conditions, have occurred in several areas, including China, Thailand, Ecuador, Indonesia and the Philippines.

White shrimp prices have been hitting record levels, according to a July 15 report from the Minneapolis Grain Exchange, which began trading white shrimp in July 1993.

For example, the average futures price per pound of Ecuadoran whites 51- to 60-count size was $4.22 per pound for the week ended July 16, 1993, which rose to $4.86 per pound for the week ended July 15, 1994. During the same period, the average futures price of 31- to 35-count of the Ecuadoran white shrimp grew from $4.40 per pound to $6.05 per pound, according to the grain exchange.

One shrimp supplier in Florida said he has seen the higher prices reflected in the marketplace.

"Overall, in the last six months, we've seen shrimp prices rise, whether it's white, pink or Tiger shrimp. Prices have risen to historical highs in almost every category," said Steve Harmell, vice president of sales and marketing at Midland Services, Miami.

While he declined to give cents-per-pound figures, Harmell said, as an example, that the Black Tiger, a popular shrimp for retailers, "has been rising in price continuously."

He added, however, that while there is definitely not the amount of shrimp that was previously available, he wouldn't characterize the situation as a "shortage."

He said the higher prices are caused by supply and demand and are exacerbated by the willingness of consumers to pay the higher retails. "If suddenly consumers stopped paying the prices, then the result would be the prices would decline. But that has not necessarily happened."