December 17, 2010

 

Thai shrimp exports surge in 2010

 

 

Thai shrimp exports in 2010 are expected to top 400,000 tonnes this year, worth about THB100 billion (US$3.32 billion), because of lower global supplies resulting from a viral outbreak.

 

The Thai Shrimp Association's president, Somsak Paneetatyasai, said shrimp exports remained in very good shape this year despite the slow world economy and shrinking consumption.

 

Next year's prospects are also promising, as global production is expected to remain sluggish.

 

In the first 10 months, Thailand exported 355,211 tonnes, a rise of 11%, with export values of THB83.04 billion (US$2.76 billion), a rise of 8% from the same period last year.

 

Paneetatyasai said higher shipments were mainly attributed to falling supplies from Indonesia, Mexico, Brazil, and China, due to the viral outbreak, as well as the oil spill in the Gulf of Mexico that cut shrimp supply in the US by 60,000 to 80,000 tonnes.

 

As a result, Thailand's shrimp exports to the US rose 5% to 162,659 tonnes in the 10-month period, with a value worth THB39.39 billion (US$1.3 billion), a rise of 3.6% despite the strong baht.

 

Shipments to Japan also rose by 9.7% to 63,819 tonnes for the period, worth THB16.80 billion (US$558 million), up 6.39%, with exports to the EU totalling 56,662 tonnes, a rise of 24.5%, worth THB12.64 billion (US$420 million), up 17.73%.

 

Paneetatyasai pointed out that the EU market was the most promising given its consumption of as much as 700,000 tonnes of shrimp a year.

 

He added that imports by China surged because of the World Expo in Shanghai and the Asian Games, increasing Thai shipments to China by 186% to 10,446 tonnes valued at THB1.43 billion (US$47 million), a rise of 125.3%.

 

The 400,000 tonnes in total represent an 11% increase while the value of THB100 billion (US$3.3 billion) is an 8% gain.

 

Local shrimp prices are estimated at THB155 (US$5.15) per kilogramme of 50 shrimps, a rise from THB125-THB130 (US$4.15-US$4.32) last year, and the prices in the first quarter next year are expected to move in that same range.

 

Paneetatyasai warned the viral diseases in shrimp have yet to be addressed, meaning authorities should pay more attention to imports of parent stock and shrimp larvae from at-risk countries.