“Prices are driven by the Forces of Demand and Supply”

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15 juin 2017 08:06

Can you evaluate the market trend? There is much of this species of shrimps known in the French language as ‘gambas’ in the waters. Fishermen who dare the deep see have a good catch which is then sold in the Youpwe seaside market where scores of buyers brave the early morning darkness to get a bit of the delicacy. The Youpwe market known as the hub of fresh fish in Douala including shrimps, is always as busy as a bee heave between 4am when fishermen return from fishing and 5:30am when transactions ends. Those who buy to retail and those who buy for restaurant and hotel businesses often placed orders before the catch while those who did not inform the fishermen beforehand especially households are obliged to buy what is left. In all the creatures fished for the day, gambas is highly solicited since it is considered prestigious. To what factors would you attribute the rise in prices? Shrimps is not as expensive as before. I can say we are moving towards the period of abundance. The prices of shrimps are driven by the forces of demand and supply. As at June 9, a kilogramme sells at FCFA 5,000. Before now the species of shrimps was more expensive and sold at FCFA 8,000. Way back in 2005 a kilogramme was about 17,000 since very few migrated from the western world and where discovered in the country, though people did not have the habit of eating shrimps, those who knew it bought for high prices. It is later that people began liking the shrimps that used ...