July 8, 2010

 

Indonesia looks at shrimp export to three countries

Indonesia is eyeing shrimp export to Russia, Saudi Arabia and Canada, following growing demand in these new markets, according to an official.

 

Saut P. Hutagalung, director for foreign marketing at the Maritime and Fisheries Ministry's Directorate General of Processing and Marketing, said that the opportunity could subsidise weakening demand from Indonesia's traditional markets of the US, Japan and Europe.

 

He expected that the traditional markets would not grow further compared to 2009, in which only 550,000 tonnes were imported.

 

He said that it is the right time to speed export up to the new markets as the impact of global crisis is still felt in the traditional markets, causing weakening demand. Besides, he said, the world's main shrimp producers are expected to experience declining supply or weakening production.

 

The world's shrimp producers of China, Indonesia, Thailand and Vietnam supply 80% of the commodity to the international market.