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November 18, 2011

Thai Shrimp Weekly: Shrimp prices leap as heavy rains threaten supply from the south (week ended Nov 16)

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Price summary
 
Thai shrimp prices jumped by THB3-8/kg during the week on fears supplies from southern Thailand, where 70% of the country's annual exports come from, could also be in peril at a time when a major shrimp-producing province, Samut Sakhon, faces threat of flooding.
 
In Mahachai, Thailand's main shrimp market located in Samut Sakhon, the increase ranged from THB5-8/kg, reflecting a strong demand, especially from Bangkok where life is getting back to normal after weeks of flooding.
 
The increase in the buying prices among members of the Thai Frozen Foods Association, mainly composed of processors and exporters, was moderate - THB3-4/kg. Continuing flood threat in Samut Sakhon, where most of these processors are located, has slowed down processing activities resulting in lower demand.
 
 
Market analysis
 
Floodwaters being drained out from Bangkok and nearby provinces have started to inundate Samut Sakhon. However, latest reports indicate that anti-flood barriers put up by the government and the private sector were holding up in the two major industrial estates where most of the province's about 5,000 seafood processors are located.
 
The Federation of Thai Industries warned last week that Samut Sakhon faces inundation that could jeopardise the country's seafood exports.
 
But, the water had been "coming down slower than expected," said Thiraphong Chansiri, president of the Thai Union Frozen Products, Thailand's number one seafood exporter whose main processing plant is located in the province.
 
He warned that it would be a disaster should if the floods enter downtown Samut Sakhon and adversely affect the factories. The federation had earlier warned that should the flooding hamper the province's industries, the damage, especially to the shrimp sector, could run up to THB150 billion.
 
The frozen foods association, meanwhile, has expressed concern over the heavy rains that have started to fall in southern Thailand.
 
It said in a recent analysis that November and December are monsoon months in the south that could result in heavy rains and flooding, as they did about this time last year.
 
Should this happen, the analysis said, Thailand's 2012 shrimp supply could fall precipitously, resulting in higher shrimp prices.
 

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 9

November 16

November 9

November 16

November 9

November 16

40 pcs/kg

165

170

166.00

173.80

220-230

220-230

50 pcs/kg

153

158

148.00

153.60

190-200

190-200

60 pcs/kg

135

140

132.00

135.70

180-190

180-190

70 pcs/kg

128

135

125.70

130.00

170-180

170-180

80 pcs/kg

123

130

118.00

122.20

160-170

160-170

90 pcs/kg

118

124

109.50

114.00

150-160

150-160

100 pcs/kg

108

116

101.00

105.00

140-150

140-150

Note: Farm-gate prices are THB10-15 lower than those at Mahachai market.
US$1=THB 30.97 (November 18, 2011)

 

 


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