July 11, 2007

Thailand plans aid measures to shrimp farmers to alleviate losses

Thailand's Commerce Ministry is meeting with shrimp suppliers to offer assistance as shrimp prices continue to head down.

Shrimp prices in Thailand have been dropping due to overproduction while exports have been hindered by trade restrictions from the US and the appreciation of the baht, Thailand's currency.

The ministry is planning a budget to assist small shrimp farmers and allowing them to pledge their crop to the ministry.

The ministry would be receiving 10,000 tonnes of shrimps in the next three months.

The Department of Internal Trade and the Department of Fisheries would also disburse aid to farmers.