May 17, 2006

Thailand doubles shrimp exports

Thailand's Department of Fisheries is planning to double shrimp export targets in order to counter rising costs from rising oil prices, Jaranthada Kantsuit, the director-general of fisheries said Tuesday (May 16).

He said that even though fisheries have been burdened by rising energy costs and inflation, the nation is still trusted by its consumer markets in Europe, Japan, and the United States.

Jaranthada stated that shrimp companies are taking advantage of the situation by increasing exports while demand remains high.

He further stated that even with rising oil costs, the doubling of shrimp exports would more than compensate the industry.