November 10, 2008

Indonesian CP Prima's shrimp sales surge by 38.8 percent

PT Central Proteinaprima posted a 38.8 percent increase on-year in sales to RP5.69 trillion (US$600 million) in the first 9 months of 2008 amid weak demand in traditional markets.

CP Prima, one of the world's largest shrimp producers, has exported most of its shrimps to the US and Japan, where demands have declined on global financial crisis.

Corporate communication officer Fajar Reksoprodjo attributed the increase in earning to larger exports in volume with prices relatively stable.

In the first half of this year, the company produced 48,952 tonnes of shrimp with exports valued at US$3.68 trillion or an increase of 42.2 percent from the same period last year, according to a Indonesian newspaper.