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November 20, 2008
 
Thai Shrimp Weekly: Shrimp prices pick up slightly as harvests fall (week ended Nov 19, 2008)    
 
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Price summary
 
After many weeks of freefall, Thai shrimp prices picked up slightly this week in open trading in Mahachai following a drop in supply. Heavy rains in Southern Thailand, particularly in Chumpon, Krabi and Suratthani where thousands of shrimp farms are located, have disrupted harvests and deliveries, traders said.
 
Most shrimp sizes posted a moderate increase of THB2/kg at Wednesday's (November 19) trading, their first foray into positive territory in many weeks, according to analysts at the Internal Trade Department.
 
But prices from the Thai Frozen Foods Association, which control 70 percent of shrimp exports, continued their slide, with each shrimp size falling by THB2-3/kg from last week because of negative overseas outlook.
 
 
Market analysis
 
The International Trade Center of the University of the Thai Chamber of Commerce released a report this week saying Thailand could lose THB100 billion - or US$2.85 billion - worth of exports if the economies of the country's key export destinations, including the US, the EU and Japan - contracted by even 1 percent.
 
Japan was reported this week to have officially gone into a recession and most other countries in Europe are reeling from the current global financial crisis.  Dr. Aat Pisanwanich, director of the center, said should the US economy contract by 1 percent, Thailand's exports to the country would drop by 2.54 percent, or THB112.56 billion (US$3.2 billion) altogether.
 
Thai export items expected to be most impacted by the global economic crisis include fisheries, particularly shrimp, and agricultural products, mining and forestry. The US accounted for about 52 percent of Thailand's total shrimp exports last year.
 
Should the Japanese economy contract by 1 percent, Dr. Aat said, Thai exports to that country would fall by 1.76 percent. And should the EU economy decline by 1 percent, Thai exports to the EU would decrease by 1.48 percent.
 
Exports to the three major economic zones, if considered based on their value, would drop by THB62.8 billion, THB34.47 billion and THB15.29 billion, respectively, or THB 112.56 billion (US$3.2 billion) altogether, Dr. Aat said.
 
Like last week, shrimp prices at public markets didn't seem to have changed despite a slight change in wholesale 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

 

Nov 12

Nov 19

Nov 12

Nov 19

Nov 12

Nov 19

40 pcs/kg

-

- 

127.10

127.00

- 

- 

50 pcs/kg

110

112

112.20

109.50

160-175

150-165

60 pcs/kg

98

100

102.20

99.80

150-160

140-150

70 pcs/kg

91

93

96.60

93.30

130-140

120-130

80 pcs/kg

88

90

92.10

88.80

120-130

110-120

90 pcs/kg

84

85

86.60

84.50

110-120

100-110

100 pcs/kg

80

82

 -

- 

100-110

90-100

Note: Farm-gate prices are THB10-15 lower than those at Mahachai market.
US$1=THB 35.130 (Nov 20)


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