Soy taps into $15-billion-dollar shrimp industry.

On average, Americans consume around 16 pounds of seafood each year with shrimp leading the school at more than four pounds. The popularity of the tasty crustaceans has led to an increase in the number of shrimp being farmed versus wild caught to meet the growing consumer demand.

According to Allen Davis, Ph.D. of Auburn University, shrimp grew from a $10-billion industry in 2000 to a $15.7-billion industry by 2005. The growth of this market opens new doors for U.S. soybean farmers as researchers explore the use of soybean meal (SBM) and soy protein concentrate (SPC) in shrimp rations.

“Feed is generally the largest variable cost associated with commercial shrimp operations,” says Dr. Davis, “and protein is the most expensive component of the feed. If we could replace fishmeal with lower-cost soybean meal or SPC, we’ll not only be saving the shrimp producers money, we’ll be building a market for soybeans, which is potentially more than 198 million bushels per year.”

The research being conducted by Dr. Davis and his team at Auburn University first focused on including SBM into shrimp diets and testing to find the maximum amount of meal that could be included in feed rations, which is more than 50 percent. But at that level it limits the ability of the feed manufacturer to manipulate the diet. The second round of research, being completed this year, involved SPC. Using the soy protein concentrate in shrimp diets allows for a higher inclusion of protein but doesn’t take up as much space in the diet. This allows feed manufacturers to have the ability to formulate shrimp diets with up to 12 percent SPC.

“Aquaculture is one of the fastest-growing components of agriculture,” says Dr. Allen. “However, if aquaculture is to expand, it will require prepared feeds made up of high-quality ingredients, such as soy. This is an excellent market for a soybean farmer’s product and an industry that can benefit from proper guidance and research.”

Checkoff Connection:

The soybean checkoff provides funds for research on increasing soybean meal inclusion rates in aquaculture diets globally and for research and educational efforts to support domestic fish and shellfish production.

Take Away Points:

• In 2008 the U.S. imported 500,000 tons of shrimp, worth nearly $4 billion.
• Texas is the state that produces the most farm-raised shrimp, with more than 3.7 million pounds worth nearly $7.5 million in 2008.
• Shrimp make up 8 percent of the volume of global aquaculture products, but account for around 23 percent of the value.
  

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