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Processors Set Own Pricing Programme

THAILAND - Seafood processors in Thailand have hit back at a recent shrimp-pledging programme by the Commerce Ministry by setting their own weekly shrimp benchmark prices.

The weekly prices, which are lower than pledging prices, are based on farm production costs and export prices.

They will be announced every Monday and will be used as median prices for food processors and cold-storage operators to buy from farmers nationwide, Poj Aramwattananont, president of the Thai Frozen Foods Association told the Bangkok Post.

To reduce potential pressure from the raisers, Mr Poj said the association would also persuade raisers nationwide to share their comments on the weekly prices.

The association disagrees with the pledging programme and sees it as an idea from giant agro-business groups.

View the Bangkok Post story by clicking here.