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Global Shrimp shortage

Shrimp prices have been shooting up, because of a global shrimp shortage.

What's been thinning out the shrimp population and when the prices could start coming down--
"This is shrimp caught locally and sold here at Joe Patti's but not  everything on the rack is from the gulf. Some of this shrimp is caught in Antarctica and some off the oceans of South America.  Globally there's a shortage in shrimp because of a disease wiping out the shrimp population in asia."

Pound per pound shrimp is costing more and more--
Chris Bernier, Pensacola President
"I think they've gone up about 50 to 75 centers per pound"
Frank Patti- who own's Joe Patti's Seafood-- admits his customers aren't imagining things--

Frank Patti, Joe Patti's Seafood
"In the past 8 months, they've gone up 40 percent here. I kept decreasing the profits, I couldn't go any lower."

Frank says it's all supply and demand--
A disease called early mortality syndrome started appearing in farm raised shrimp in China--

There's no danger to people-- but the disease began spreading and killing farm raised shrimps in Asia which supplies a majority of the world's shrimp.

U.S. researcher say it's began to infect shrimp farms in Western Mexico.
Frank Patti, Joe Patti's Seafood
When that product goes, it puts the demand on what we're going on this hemisphere.

Distributors are now charging more for their shrimp--
Passing it along to seafood stores and restaurants and eventually down to the customers-- many say there's nothing they can really do--

Nancy Kennington, Fairhope
"Everything's going up. Gas is going up."

Chris Bernier, Pensacola President
This is the best shrimp around, and the family is coming in for Easter so we're going to have some good food."

Prices could drop as early as June. That's when shrimp season starts and local boats are expected to bring in more shrimp.