The shrimp farmers have agreed to the reduction, which will see Thailand's shrimp production falling from 490,000 tonnes this year to 392,000 tonnes, according to a report in The Nation.
Last year the association cut production by 7.55 per cent to keep prices up and now the farmers have agreed to cut the number of fries - small shrimps - brought onto the farms and to cut harvests from three time a year to once.
The association successfully reduced production 7.55 per cent last year, which helped shore up prices.
President Somsak Paneetatyasai yesterday said shrimp farmers had agreed to reduce the number of fries (baby shrimps) put into a farm, reduce harvesting from three times a year to once or twice and stop expanding their farm areas.
"The plan is designed to cope with expected lower purchasing power in major export markets like the US, the EU and Japan. They'd be the ones most affected by any global economic meltdown," association president Somsak Paneetatyasai told The Nation.
However, the association does not expect consumption to drop sharply in line with the economy.
Thailand Cuts Shrimp Production
THAILAND - The Thai Shrimp Association will cut production by 20 per cent next year, to help stabilise prices and balance farmers' incomes.
