January 12, 2012

 

Thai shrimp prices hike on heavy downpour

 

 

Thailand's frozen imported shrimp prices have swollen to a six-month high amid heavy rainfall over shrimp farms in the southern part of the country.

 

The offer price of Thai vannamei shrimp recently hit US$8.6-$8.7 per kilogramme, or 31-40 shrimp, jumping 5% from December to approach the record of US$9.1 dollars set last April.

 

Vannamei shrimp is used in such dishes as conveyor-belt sushi and stir-fried shrimp in chili sauce, and Thailand is Japan's largest supplier of the seafood. Floods that struck the Southeast Asian nation last March and October damaged shrimp farms and distribution facilities, pushing prices higher. The latest price increase is attributed to additional rains in late December and early this month in southern Thailand, where the nation's shrimp farms are concentrated.

 

Although domestic demand for frozen shrimp reportedly leveled off around the year-end holidays, Chinese consumption continues to grow.