December 18, 2007

Thailand to reduce shrimp production in 2008

The Thai Shrimp Association will reduce shrimp production by 20 percent next year, opting for quality instead of quantity in the face of rising production costs.

The production cost is expected to be higher due to oil price rises next year, according to association president Somsak Paneetatyasai.

The association also called on the government to stabilise the currency rate to support Thai exports and to adopt improved strategies in trading with other countries.

Thai shrimp raisers expect to benefit from the Japan-Thailand Economic Partnership Agreement (JTEPA), said Somsak.

He also said that Thailand will likely win the anti-dumping case in the US market.

Thai shrimp exports are expected to be at 360,000 tonnes, valued at Bt80 billion (US$2.63 billion) in 2007.

US$1 = 30.350 Thai Baht

As of December 17