Will oil spill impact seafood prices?
Mon, 03 May 2010 18:40:07 GMT —
Last weekend the federal government shut down commercial fishing in much of the Gulf of Mexico as crews try to stop the spead of oil after a rig exploded and sank. Some people have worried about how this may impact local seafood prices. There could be mixed results.
Joe Falcone, the owner of Fish Cove Restaurants and Wholesale, says there are many alternative sources for shrimp, including Indonesia, China and South America. "Shrimp come from all over the world." Falcone told CNY Central.
Falcone says he has not seen any price spikes yet, but reports from the Gulf claim the price of Gulf Coast shrimp have more than doubled as wholesalers buy up as much as they can while supplies last.
Falcone does feel the spill could impact the market for clams and oysters because it would increase demand from North Atlantic sources.
For more information on how the oil spill is getting contained, and on the fishing regulations, check out the National Oceanic and Atmospheric Administration website.