The fishing industry here is currently monitoring opportunities as the demand for shrimp imports by the United States market has increased following the British Petroleum (BP) well spill in the Gulf of Mexico.

Agriculture Minister Robert Persaud told Stabroek News via email yesterday that the industry has taken note of the oil spill and is currently monitoring the situation to determine if any market opportunities can be pursued.

He said that the ministry stands ready to assist the industry if market opportunities arise, adding that the agency make take measures to support the industry in taking advantage of such opportunities.

Persaud noted that the shrimp industry is primarily Seabob (a species of shrimp) and that it has remained relatively constant and lucrative over the past few years. He noted, however, that due to the precautionary approach adopted towards sustainable fishing practices within the local fish sector, the industry is not being encouraged to expand and according to him discussions are currently on-going to reduce the number of trawlers.

President of the Guyana Association of Private Trawler Owners and Seafood Processors (GAPTOSP), Bruce Vieira when contacted for a comment stated briefly that the industry has not been affected by the on-going oil spill, and persons within the association told this newspaper yesterday that “an expected boom” in imports required by the US market would be welcomed by the local processors given the “steady” increases the industry has experienced over the years.

Production figures for shrimp exports provided by the Agriculture Ministry over the past three years indicate gradual increases in demand. The figures are: 2007 – 15,875 metric tonnes (mt), 2008 – 16,640 mt and 2009 -17,503 mt.

Guyana had been recertified in May 2008 to export shrimp to the United States, the biggest market for seabob to which more than 70% of exports were directed over the past three years.

In order to access this market the authorities had put measures in place to comply with the relevant US law which states that only shrimp harvested in ways that are not harmful to certain endangered species of marine turtle can be imported.

Consequently, the authorities had put regulations in place which makes it mandatory for all shrimp trawlers to have Turtle Excluder Devices (TEDs) installed on their nets.

The recertification process was undertaken without an inspection team visiting facilities here, and the Agriculture Ministry noted that the milestone was achieved following increased monitoring efforts by the Fisheries Department of the Ministry as well as the GAPTOSP.

Shrimping is seen as being of critical importance to Guyana, constituting 50% of the country’s fishery export earnings of approximately US$25M.

The oil spill in the Gulf of Mexico has seen the prices of fishery products climbing while the US market had been forced to hike imports from its traditional markets around the world, including the Brazil, the largest market in Latin America, Mexico and South Asia.

Since the April spill, prices in the US have increased by 40% as supply has shrunk, and with one-third of the fisheries in the Gulf being forced to shut, less shrimp is being caught. Prices are expected to rise further, say experts.