Word: shrimps
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...course, but such items were priorities for the White House staff as it planned last week's double date for Anwar, Jihan, Ronnie and Nancy. It was the first state dinner in the Reagan Administration at which men wore business suits instead of black tie. Not a shrimp or crab claw was to be seen. But the Reagans' high style was very much in evidence, reinforcing their reputation as the best partygivers at 1600 Pennsylvania Avenue since the Kennedys...
Shayne is already the world's biggest single exporter of farmed shrimp, although competitors are growing rapidly. Fish farming, practiced by the Chinese some 4,000 years ago, is producing shrimp in commercial quantities in countries like Japan and the Philippines. It is going on also in states such as Hawaii, California and Florida, and there is even a research facility in landlocked Arizona. Says Shayne: "If you do it right, this is the best business going. The returns are even better than from growing marijuana...
...profits are indeed substantial and have created a kind of gold-rush atmosphere in Ecuador. An investment of $1,200 to $2,000 per acre of shrimp pond could be returned in just six months. Says Joe Fischer, an aquaculture expert brought in from Hawaii by Shayne: "People are racing to get ponds dug, even when they have no idea what they are doing...
There can still be hazards. Ecuadorian exports last year were up 62% in volume since 1979, but they increased by only 27% in value because the price of shrimp dropped an average of 80? per lb. Main reason: buyers were turned off by high prices and knocked shrimp off their shopping lists. American shrimpers, who still practice their trade in boats, do not like the lower prices and tough competition. They have been making protectionist rumbles in Washington for a tariff on imported shrimp, but thus far to no avail...
Shayne and the other shrimp producers see their product as a source of cheap, high-quality protein. Says Scott Horton, a marine biologist from Texas A&M: "Shrimp has far greater food value than any other farm product, even beef. It is really the chicken of the sea." Lower prices will be good news for consumers; in some Manhattan restaurants last week six shrimp cost a stunning...