Looking forward to Christmas, the UK government has increased the autonomous tariff quota (ATQ, a duty-free provision) for imported coldwater shrimp by 49%, in time for the seafood industry to stock up for the holidays. The additional ATQ means an extra 3,200 metric tons of imports can come in duty-free to the world’s single largest market for coldwater shrimp. The move primarily benefits Greenland, with whom the UK has a proposed free trade agreement that is so far unsigned.
The original ATQ of 6,500 tonnes for 2022 had been filled in August, leaving suppliers wondering how to guarantee shipments for Christmas purchases. As a result, shrimp prices moved upward steadily from August on. The expanded ATQ has brought prices down to 201g levels, according to news reports. Industry officials report their hopes that the ATQ for 2023 will be set with 2020’s experiences in mind. By then, industry officials hope, a UK-Greenland trade deal will be in place.
The biggest feared shortages had been in food service (sandwiches, salads, and so on), as the retail sector’s supply was seen to be safe to the end of the year. Canada is the next largest shrimp supplier to the UK, but its harvests are more tightly managed and cannot readily be increased.