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October 13, 2011

Thai Shrimp Weekly: Shrimp exporters stockpile inventory as floods threaten supplies (week ended Oct 5)

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Price summary
 
Shrimp exporters have been stocking up on supplies as Thailand braces for more floods, driving the buying prices of the Thai Frozen Foods Association this week up by THB2-4/kg across all sizes.
 
In Mahachai, however, prices have stabilised after last week's surge on increased supplies from farmers who rushed their harvests to save their crops from the anticipated flooding. Mahachai vendors said 175 to 200 big basket-loads of shrimp were being traded daily this week compared to only around 150 last week.
 
 
Market analysis
 
The government has warned that unrelenting rains and swollen waterways could inundate more parts of the country, including the capital Bangkok, in a week or two. So far, the floods caused by weeks of unusually heavy rain have destroyed more than 3,000 hectares of Thailand's shrimp and fish farms.
 
The Thai Frozen Foods Association, largely comprised of shrimp exporters, cut their buying rates last week because of a slowdown in overseas demand in the face of deepening economic crises in the US and the EU.
 
An association source said there had been heavy buying by shrimp exporters this week, amid worries that supplies could slacken in the next few weeks due to the anticipated flooding. Despite the debt crisis in both the US and the EU, Thai exporters still expect more foreign orders in the run-up to the Christmas and New Year holidays, the peak season in shrimp exports, the source said.
 
The flooding, which the government describes as worse than last year's, has washed away 50,000-60,000 tonnes of shrimp.  The Department of Fisheries expects Thailand's shrimp output this year to decline by 10-15%, causing prices to increase by up to 40%.
 

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

September 28

October 5

September 28

October 5

September 28

October 5

40 pcs/kg

165

165

157.50

161.70

220-230

220-230

50 pcs/kg

145

145

142.50

145.80

190-200

190-200

60 pcs/kg

135

135

132.40

133.80

180-190

180-190

70 pcs/kg

125

130

125.00

128.20

170-180

170-180

80 pcs/kg

120

120

117.80

121.20

160-170

160-170

90 pcs/kg

115

115

110.40

114.40

150-160

150-160

100 pcs/kg

105

100

102.00

104.00

140-150

140-150

Note: Farm-gate prices are THB10-15 lower than those at Mahachai market.
US$1=THB 30.82 (October 13, 2011)

 

 


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