Thai shrimp production to drop 3%

Thai shrimp production to drop 3%
Credit: Internet

Thai shrimp production is expected to drop by 3% this year, attributed to volatile weather, diseases, and unattractive shrimp prices. 

Somsak Paneetatyasai, president of the Thai Shrimp Association, said the country`s shrimp production is estimated at 290,000 tonnes this year, down from 300,000 tonnes in 2017. Production from the Deep... 

Global shrimp production is estimated at 3.2 million tonnes this year, a 15% rise from a year before as several countries such as Ecuador, Vietnam, Indonesia and especially India have higher output. This affects global shrimp prices and the competitiveness of Thai shrimps in the market," said Mr. Somsak.

For the first 10 months, Thailand shipped 143,129 tonnes of shrimp worth 45.5 billion baht, down 14.5% and 18.8%, respectively.

For the entire year, the association forecast shrimp exports will stay at about 180,000 tonnes worth 50-55 billion baht, down 11.8% and 19.7-27% respectively from 2017.

The US is expected to remain the major export market for Thai shrimp for this year, representing 40% of the total exports or about 30,000 tonnes, followed by Japan at 20% or 20,000 tonnes and China for 10% or 14,000 tonnes.

Mr. Somsak said China is an interesting market, with the shipment prospects likely to become more promising if the ongoing trade row between the US and China eases and the Chinese economy expands by more than 5% in coming years.

For 2019, the association looks more positive on overall Thai shrimp production, projecting the production to stay in a range of 310,000-320,000 tonnes, with exports making up about 200,000 tonnes worth 60 billion baht.

Mr. Somsak warned challenging factors for the year to come include the relatively high labor cost in shrimp processing, a stronger baht, a lower farming area, diseases and existing trade barriers such as in the EU. 

https://www.bangkokpost.com/business/news/1593618/thai-shrimp-production-to-drop-3-.

Source: Bangkokpost | Last updated on: December 17, 2018

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