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October 30, 2008
 
Thai Shrimp Weekly: Shrimp industry crisis deepens (week ended Oct 29, 2008)           

An eFeedLink Exclusive       
 

Price summary
 
The crisis has deepened for the local shrimp industry as farm prices again dipped for the fourth consecutive week by as much as THB6-8/kg across the board due to lackluster demand domestically and internationally.
 
For the first time, the price fall was almost uniform between open trading in Mahachai, the country's main wholesale shrimp market, and the buying rates from food processors belonging to Thai Frozen Foods Association.
 
Consequently, shrimp feed prices have plummeted to THB27.20/kg on the average from last month's high of THB32.84/kg.
 
 
Market analysis
 
Although shrimp prices have been falling since the start of the year, it was only during the last four weeks that the drop had been substantial and consistent. Since January, local white shrimp had lost about one-fourth of its price.
 
In Mahachai, a kilogramme of 60-pieces-per-kg size shrimp was selling at THB145/kg in January this year. At this week's open-market trading in Mahachai, it was selling at a record low of only THB115/kg.
 
The latest price hemorrhage started early October at the end of the three-month subsidy scheme launched by the government to rescue the ailing white shrimp industry which generates roughly THB80 billion a year in export revenues.
 
It now appears that both the government and industry leaders expect the worsening price slump to slash local production in a big way. Thai Frozen Foods Association leaders had earlier revealed that hundreds of farms have shut down because of sustained losses while more farms are converting to tilapia culture, where price and demand have been stable over the years.
 

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

 

Oct 22

Oct 29

Oct 22

Oct 29

Oct 22

Oct 29

40 pcs/kg

 

 

138.60

132.20

 

 

50 pcs/kg

123

115

127.50

120.00

170-185

160-175

60 pcs/kg

110

105

115.00

107.60

160-170

150-160

70 pcs/kg

105

100

108.00

101.40

140-150

130-140

80 pcs/kg

98

97

102.40

95.50

130-140

120-130

90 pcs/kg

90

93

95.20

89.60

120-130

110-120

100 pcs/kg

87

88

 

 

110-120

100-110

Note: Farm-gate prices are THB10-15 lower than those at Mahachai market.
US$1=THB 34.870 (Oct 30)

 


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