May 7, 2009
Thailand frozen seafood exports seen up five percent
Thailand's frozen seafood and processed food exports are expected to grow by five percent this year despite the global economic downturn, Thai Frozen Foods Association (TFFA) president Poj Aramwattananont said Wednesday (May 7).
Poj said the industry last year generated about THB200 billion of seafood in export value, and of these, seafood products worth as high as THB150 billion were transported to destination markets by sea.
However, he noted that it is an undeniable fact that the global economic crisis has had a significant effect on the overall performance of Thailand's export sector, but said there is still room for export growth.
The exports of frozen seafood is expected to rise following US decision to abide by a World Trade Organisation (WTO) settlement-dispute ruling that it changes the rate calculation for its anti-dumping duty on Thai shrimp exports.
The US is the main export destination for Thai shrimp, valued at THB43.17 billion last year, almost half of the total export of THB85 billion in 2008.
Thai shrimp exports in the first two months this year totalled US$290 million, rising four percent from 2008.
US$1 = THB34.702 (May 7)
