October 24, 2008

PT Central Proteinaprima Tbk's shrimp exports to the US are still considered prospective amid the global financial crisis, as the company's exports to the US in the first half of 2008 surged 42.18 percent.

The US is CP Prima's main export market and the economic crisis is not expected to affect the company's exports, said Fajar Reksoprodjo, Corporate Communications of CP Prima.

According to Fajar, strong US purchasing power and the increasing popularity of healthy diet will ensure huge market opportunities for CP Prima's shrimp products.

Researches conducted by the Faculty of Public Health at Harvard University and Rockefeller University at New York have also allowed Americans to be aware of the nutrition values in shrimps.

Fajar said the financial crisis in the US has made Americans more inclined to stay indoors than outdoors, which means they would also tend to spend money on food in the supermarkets that are large buyers of CP Prima's frozen shrimp.

Fajar said Americans still have strong purchasing power due to social benefit programmes in the US that distributed cash and food vouchers to the citizens.

To support the view, Fajar said CP Prima recorded IDR 3.683 trillion (US$368.8 million) in shrimp exports in the first half of 2008, up 42.18 percent on-year.

CP Prima is currently developing over 50,000 hectares of shrimp farm areas in various locations.