SHRIMP MARKET REOPENS TO BRAZIL

Brazilian Court of 1st Instance of the neighboring country announced its
decision, by suspending the injunction filed in October 2013 by the
Brazilian Association of Shrimp Farmers (ABCC), which banned Argentine
exports of shrimp and shrimp Brazil.
Monday June 3, 2019
The Ministry of Government Agribusiness Office reports that the judgment of
the Brazilian Court of 1st Instance is based on several scientific papers
showing that exports of shrimps and prawns from Argentina do not represent
a real risk and effective for Brazil. Thus, the joint scientific work that
both countries conducted and completed in March 2013 is endorsed.
While Brazilian Court's ruling can be appealed within 15 days following its
publication, the mere filing of the appeal will not be sufficient to
prohibit the importation of shrimp and prawns from Argentina.
Notably, the Argentine fishing industry is a highly competitive and
represents large commercial and productive growth given its strong export
bias opportunities. Between 2016 and 2018, the total Argentine exports of
shrimp to the world averaged 176 thousand tons, equivalent to U $ S 1,167
million a year. The European Union is the main destination of exports of
prawns, followed by China in the last year recorded an increase of 39% in
volume compared to 2017.

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