Shrimp Prices Plummet for South Carolina Shrimpers
Shem Creek, South Carolina — Off South Carolina's coast, shrimper Rocky Magwood has a jumbo problem: plummeting prices for his catch.
"It's worse right now than we've ever seen," Magwood said. "…I mean, people are dropping like flies out of this business."
The cause is cheap shrimp imported from Asia, grown in pond farms and often subsidized by foreign governments. It's idled many of this state's roughly 300 shrimpers.
"I would love to be out here at least six days a week," Magwood said.
Instead, he's shrimping only two or three days a week because, as he explains, there's "no market."
Last year, local shrimpers received $5.73 per pound for their haul, according to data from the National Oceanic and Atmospheric Administration. This year, it's down to $3.39 per pound, a decrease of just over 40%, which shrimpers say barely covers their costs.
Patrick Runey's seafood restaurant, T.W. Graham & Co. in McClellanville, South Carolina, serves only locally caught shrimp. He pays more because he says local shrimp tastes better.
According to Runey, his restaurant could go with a cheaper alternative, "but that's not what people want."
U.S. Shrimpers Call for Tariffs on Foreign Competition
Many shrimpers in the United States are advocating for the implementation of tariffs on foreign competition. The U.S. Department of Commerce recently announced that it will be conducting an investigation to determine whether antidumping and countervailing duties should be imposed on fish imported from several countries, including Ecuador, Indonesia, India, and Vietnam.
Shrimper, John Magwood, expresses concern for the future generation of shrimpers. He states, "I have a five-year-old son who won't be able to continue this profession if things continue as they are. This is the reality."
