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Market Reports

October 8, 2013

Thailand's shrimp prices reach new high as it aims to be ASEAN's seafood hub (week ended Sep 26, 2013)
 
An eFeedLink Exclusive        
 
 
Price summary
  
Shrimp trading price continue to surge from last week's THB250/kg (US$7.94/kg) to THB275/kg (US$8.73/kg) this week for a kilogramme of 50 shrimp.
 
Production volume is higher in Mahachai market by more than 100 containers each day on average. The price of a kilogramme of 40 shrimps reached new high, at THB 280/kg (US$8.89/kg), from THB 255/kg (US$8.10/kg) last week.
 
 
Market analysis 
 
The Fisheries Department is keen to make Thailand the seafood hub of the ASEAN region.
 
According to the deputy minister, the Fisheries Department will focus on five strategies to achieve the ultimate goal. These strategies include enhancing marine species' productivity, improving the quality of seafood products, maintaining the number of marine species in the international waters, promoting seafood processing among producers, and organising fairs and events to make Thai seafood products better known to the world.
 
An international food fair, the biggest in Southeast Asia, will be held in May 2015, which will offer Thai entrepreneurs an opportunity for business dealings with foreign investors and to build investors' confidence in the country's seafood industry.
 
Dr Poj Aramwattananont, president of the Thai Frozen Foods Association, said if Thailand becomes the seafood hub of ASEAN by 2015, it could surpass the export value in 2012, worth THB264,000 million or US$8,380 million of fishery products. Thailand has increasing potential to be ASEAN's seafood hub, with the advantage of experienced companies in this industry. Many companies have more than 20–50 years of experience in general and marketing management, with efficient traceability system by Fisheries Department. Moreover, it is a leader in the shrimp industry and seafood processing industry and can process more than 3 million tonnes of raw materials each year.
 
Currently, the Thai fishery industry faces many challenges, the main problem is the lack of shrimp raw material due to Early Mortality Syndrome disease and the lack of other seafood raw material.
 
Moreover, the Thai fishery industry is facing challenge from Singapore, which has announced that it will be the seafood hub of ASEAN. Singapore plans to source for more raw materials from countries such as China, Myanmar and India and form linkages in trade and food processing with China, India and Middle Eastern countries. Currently, the Singapore government supports good practice in seafood processing, food safety and halal food promotion for export to the Middle Eastern market.
 
Last year, Singapore imported more than 200,000 tonnes of seafood raw material and continues to grow each year. Although volume is still smaller than Thai seafood exports, Thailand will need to monitor carefully. 
 

White shrimp prices (in Thai baht) at Thailand's main markets

Unit of Measure: Thai Bhat

Shrimp size

Mahachai seafood market

Thai frozen foods association
benchmark price

Bangkok markets

Sep 19

Sep 26

Sep 19

Sep 26

Sep 19

Sep 26

40 pcs/kg

255

280

240

240

280-290

280-290

50 pcs/kg

250

275

235

235

250-260

250-260

60 pcs/kg

245

270

230

230

240-250

240-250

70 pcs/kg

240

260

220

220

230-240

230-240

80 pcs/kg

225

255

205

205

220-230  

220-230  

90 pcs/kg

215

230

195

195

210-220

210-220

100 pcs/kg

195

215

--

--

200-210

200-210

Note: Farm-gate prices are THB10-15 lower than those at Mahachai market.
US$1=THB 31.47 (Oct 8, 2013)

 

 


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