December 6, 2019

 

Thailand's tuna, shrimp sectors to stay flat in 2020


 

Commodity prices are flat, with prices for tuna and shrimp expected to drop next year, reported The Business Times.

 

Tuna prices have fallen sharply year-on-year because of plentiful supplies in 2019 but is projected to return around US$1,400 to US$1,500 per tonne next year. Price rebounds are expected to return from temporary fishery shutdowns, once prices have dropped to US$1,000 a tonne.

 

In the shrimp industry, prices have dropped year-on-year due to supplies from neighbouring Southeast Asian countries such as Vietnam, with production set to increase further from these neighbouring markets, said Thunya Sutavepramochanon, analyst at UOB Kay Hian.

 

On the other hand, poultry, swine and soybean dealers are expected to see improved earnings heading into the new year on a low base.

 

The analyst said meat demand is set to soar from increased consumption and recovery of the economy. In addition, Thailand's suppliers can take advantage of the African swine fever outbreak in China and Vietnam, especially as China looks overseas to supplement its dwindling meat supplies.

 

-      The Business Times

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