President Somsak Paneetatyasai of the Thai Shrimp Association said Thailand currently could produce 490,000 tonnes per year and that the export price was satisfactory at 231 baht per kilogram, reports Balita News.
According to the news organisation, the price is not likely to drop further as local shrimp farmers earlier cut their production by 20 per cent while increasing production efficiency to meet standards.
The shrimp farmers 20 per cent production cut was to stabilize production at about 390,000 tonnes per year to stabilize prices and profits amid concerns about the economy in Thailand's key export markets like the US, where orders dropped by four per cent from January through October 2008.
Thia Shrimp Producers Wind Down as Crisis Unfolds
THAILAND - Thai shrimp farmers will decrease production by 20 per cent in response to the world economic crisis.
