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November 14, 2011

Thai Shrimp Weekly: Shrimp trading light while shrimp bowl braces for heavy flooding (week ended Nov 9)
 
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Price summary
 
Light trading prevails in Mahachai, Thailand's main wholesale shrimp market, as vendors and buyers brace for the town's inundation. And prices of smaller sizes, the ones mostly available, moved up a notch higher during the last few days on limited supply.
 
Meanwhile, the buying rates at the Thai Frozen Foods Association are unchanged as members, mostly shrimp and seafood exporters and processors, have scaled down their operations to prepare for the flooding.
 
 
Market analysis
 
The Federation of Thai Industries warned its members in Samut Sakhon, where Mahachai is located, that the mighty Tha Chin River is full to the brim and could unleash tonnes of water into the province as early as this week.
 
More than 5,000 factories, mostly in the seafood sector, operate in Samut Sakhon, employing more than 500,000 people. The country's number one seafood exporter, Thai Union Frozen Products (TUF), has its main plant in the Muang district of Samut Sakhon.
 
FTI estimates that damage to the province's industries, especially to the shrimp sector, could run up to THB150 billion should the flooding materialises.
 
The Ministry of Agriculture said at the weekend they were trying to hold off release of water from nearby dams, which are near breaking point, to allow farmers to first harvest their crops. Thousands of shrimp farms are located in the province.
 
Labour Ministry officials visited two industrial estates in the province over the weekend to meet business operators to discuss evacuation plans for the workers. The operators agreed to provide shelters for their Thai workers estimated at over 300,000.
 
The ministry for its part offered to house foreign workers, said to be around 200,000, in its existing shelters in various provinces during the flooding, which is expected to last for at least a month.
 
Labour Minister Phadermchai Sasomsap, who visited Samut Sakhon to personally assess the situation, said the government did not want a repeat of what happened in Ayutthaya province where immigrant workers fled to various places, making it difficult for government to help them.
 

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

November 2

November 9

November 2

November 9

November 2

November 9

40 pcs/kg

165

165

166.00

166.00

220-230

220-230

50 pcs/kg

155

153

148.00

148.00

190-200

190-200

60 pcs/kg

135

135

132.00

132.00

180-190

180-190

70 pcs/kg

130

128

125.70

125.70

170-180

170-180

80 pcs/kg

122

123

118.00

118.00

160-170

160-170

90 pcs/kg

117

118

109.50

109.50

150-160

150-160

100 pcs/kg

105

108

101.00

101.00

140-150

140-150

Note: Farm-gate prices are THB10-15 lower than those at Mahachai market.
US$1=THB 30.77 (November 14, 2011)

 

 


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