July 20, 2012

Thailand discloses success of shrimp project

With nearly 9,000 tonnes of shrimps sold in the first month of the programme, Thailand's Ministry of Agriculture and Cooperatives has revealed that the project of "Shrimp Price Stabilisation" has been a success.

Minister of Agriculture and Cooperatives Theera Wongsamut disclosed that the Fisheries Department has been instructed to put the "Shrimp Price Stabilisation" project on a trial basis for three months. The first-month programme was a success, with the Fisheries Department acting as mediator between farmers and cold storage firms. Over 8,800 tonnes of shrimps are on the trading agreement within 18 provinces, 6,000 will be shipped to the South and 2,000 to the East, and there are currently 886 shrimp farmers who have been taking part in the programme.

Meanwhile, Wimol Jantrarotai, Director-General of the Department of Fisheries added that shrimp price in the market has moved up THB5 (US$0.16) per kilogramme since the beginning of July and is expected to rise further by the end of July as well, due to the increasing demand of shrimps in foreign market during Christmas time.

As a result of the success, the programme will be extended by one more month, effective from July 19, after which an extension will be considered on a monthly basis until the shrimp price recovers.