The Texas shrimp industry; a briefing report
Haby, Michael G. and Richard E. Tillman
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The purpose of this report is to present current trends and conditions in the Texas shrimp industry and evaluate how these factors impact individual production, processing, and marketing firms. The processing and marketing section addresses contemporary operational practices of shoreside facilities, particularly as they relate to maintenance of profitability in an environment of continual, often unpredictable, price changes. The effect of price variation on inventory values is estimated using periodic prices, with known limitations. While there are no methods to protect inventory values, successful processors rely on a combination of techniques to minimize the impact of constant price changes. Amoung these are marketing a greater proportion of more convenient shrimp products with gross margins substantial enough to weather periodic depressed prices; a quick turning inventory given the constraints inherent in purchasing, preserving and holding a seasonally produced item; and diversification into other marine foods.