Growth of Fishery in Nicaragua revived in 2010

2010-04-19

Major export market of domestic fishery products is USA. Financial storm occurred in USA resulted in economic recession. Sales of high value fishery products such as lobsters slowed down. International market price sharply declined. Production cost cannot be covered. Furthermore, some fishery processing plant in North of Nicaragua lacked for revolving funds. They were forced to suspend ordering from local fishermen, resulting in unemployment of fishermen. However, as international economic prosperity revives in 2010, rise in demands of international market for high value fishery products such as lobsters, cultivated shrimps, sea shrimps and scaled fishes has emerged, and growth of fishery in Nicaragua will be revised.