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Shrimp production cut by 20 Per Cent

THAILAND - Thai Shrimp Association plans to reduce shrimp production by 20 per cent next year, to cope with higher costs and lower prices.

"We are focusing on quality, not quantity," said Somsak Paneetatyasai, president of Thai Shrimp Association.

The association expects Thailand's shrimp export to reach 360,000 tonnes this year, worth a total of Bt80 billion. Shrimp farmers have suffered from lower prices due to oversupplies.

Somsak said that next year, farmers would be encouraged to reduce the intensity of shrimp in each pond and the number of farming ponds would be cut.

He also urged the government to stabilise the foreign exchange rates, to boost shrimp exports, and hopes that the Japan-Thai Economic Partnership Agreement would help boost demand for Thai shrimp.

Source: TheNationBusiness