Thailand Shrimp and Prawn Report: Production and Export Trends 2023

Thailand's shrimp industry, once dominant, has struggled to recover from disease outbreaks, leading to declining output. Moreover, low global shrimp prices, driven by oversupply, have squeezed profit margins, leading to global production cuts. Recent data suggests prices may stabilize, but Thailand faces high production costs compared to major rivals like India and Ecuador. Thai shrimp producers must focus on achieving more competitive export prices. A unique advantage is Thailand's significant domestic further processing, which could help overcome challenges. As prices recover, Thailand's shrimp production could rebound potentially regaining lost market share in the coming years.