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Shrinking Thai Demand Begs Shrimp Cut Back

by 5m Editor
7 November 2008, at 12:00am

THAILAND - Shrimpers in Thailand are being advised to cut back production in line with estimated demand, which is expected to fall by as much as 10-20% next year.

Somsak Paneetatyasai, the president of the Thai Shrimp Association, said the poor economy would force importers to keep lower stocks. The result could be lower prices for Thai shrimp, says the BangkokPost, especially if the local industry still sticks with its target to produce 500,000 tonnes of shrimp next year.

According to the news agency, next year's production should be slashed by 20 per cent at maximum and export volume should not exceed 350,000 tonnes, or 50,000 tonnes lower than this year's estimate, he said.

The cuts are to prevent further falls in shrimp prices, which have dropped steadily this year. The price is 115 baht per kilogramme (50 shrimp), down 15% from the same period last year."If the market improves, farmers will be able to build up supplies quickly as the harvesting period of shrimp is only four months," he said.

5m Editor