June 9, 2005

Thailand's shrimp exporters seek help as US exports fall

Thailand's shrimp exports to the US have fallen by 36 percent in the first quarter this year, and the Thai Shrimp Association has urged the government to help impose measures that would prevent further losses in the industry.

Somsak Paneetayasai, the association's head said the sharp drop was due to anti-dumping duties placed on shrimp exported from Thailand to the US. Moreover, there is a requirement that exporters must make an advance guarantee for their shipments by posting "continuous bonds", and some traders do not have such funds ready in advance.

In the first three months of the year, Thailand exported 31,564 tonnes of shrimp to the US, compared with 49,033 tonnes in the same period last year.

Total exports of shrimp have fared better. During the first three months of the year, the country exported Bt14.7 billion worth of shrimp, which puts it on track to achieving the Department of Export Promotion's goal of Bt60 billion this year. Thailand exported Bt32.7 billion worth of shrimp last year.

The "Thai Shrimp Export Fair" held yesterday was organised by the Permanent Secretary Office of the Commerce Ministry and the Department of Export Promotion to convince foreign importers to buy more Thai shrimp and also to find new markets for Thai shrimp. Over 100 importers from China, South Korea, Taiwan, Hong Kong, Australia and Canada attended, giving new hope to many exporters in Thailand.