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December 5, 2011

Thai Shrimp Weekly:  Prices of smaller shrimp plunge as supply floods market (week ended Nov 30)
 
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Price summary
 
Smaller shrimp prices have plunged in the market, falling by as much as THB11/kg, due to a surge in supply as Southern Thailand farmers advanced their harvests on fears of flooding.
 
However, with most farms harvesting early, supply of premium sizes - those counting 40-60 pieces to a kilogramme - are so tight that processors and exporters are buying them at THB4-7/kg higher than they did last week.
 
 
Market analysis
 
Southern Thailand, where more than 70% of the country's shrimp supply comes from, has been hit by heavy rains during the last two weeks, resulting in heavy flooding in some areas. In some parts of Phatthalung province, for instance, water level had gone as high as one metre. In Narthiwat province, schools were closed for days also due to flooding.
 
Flooding in Thailand's southern region about this time last year washed away 50,000-60,000 tonnes of shrimp, triggering a jump in shrimp prices nationwide.
 
Thailand's shrimp output is expected to drop by at least 40,000 tonnes to 580,000-600,000 tonnes this year, from 640,000 in 2010, due to the recent heavy flooding in central Thailand. But this drop, says Somsak Paneetatyasai, president of the Thai Shrimp Association, would have minimal impact on Thailand's export.
 
He says exports could only shrink to 390,000 tonnes this year, from 400,000 tonnes last year.
 
While the floods have affected smaller shrimp producers, analysts say, giants like Charoen Pokphand Foods (CPF) and Thai Union Frozen Products, do not seem to have felt the pinch, thanks to advanced farm technologies and high capital.
 
The two companies have posted increases in shrimp exports in the past few months.  During the third quarter this year, shortly before the flooding, CPF's processed shrimp exports increased by 11% as compared to last year to THB3.7 billion (US$87.4 million/US$120.2 million).
 
CPF recently introduced new technology methods that have allowed it to boost supply, increasing production cycles from twice to three times a year.
 
Thai Union, on the other hand, had a 13% increase in volume and an 18% increase in the price of exported shrimps have led to a 34% increase in year-on-year shrimp sales.
 

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 23

Nov 30

Nov 23

Nov 30

Nov 23

Nov 30

40 pcs/kg

168

168

176.40

182.50

220-230

220-230

50 pcs/kg

160

160

158.60

163.00

190-200

190-200

60 pcs/kg

148

145

139.80

146.80

180-190

180-190

70 pcs/kg

142

137

133.80

138.30

170-180

170-180

80 pcs/kg

133

126

124.40

127.00

160-170

160-170

90 pcs/kg

128

117

114.00

119.80

150-160

150-160

100 pcs/kg

116

113

105.00

110.00

140-150

140-150

Note: Farm-gate prices are THB10-15 lower than those at Mahachai market.
US$1=THB 30.83 (Dec 5, 2011)

 

 
 
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