News

Thailand's shrimp exports are projected to increase by 10% next year

Seafood
Frozen Common Shrimp & Prawn
Thailand
Market & Price Trends
Published Nov 30, 2023

Tridge summary

Thailand's shrimp exports are expected to grow by 10% next year due to increased domestic production and stronger demand, particularly in the United States. However, this year's shrimp exports have declined compared to last year due to low prices, high production costs, and challenges such as diseases and volatile weather conditions. Thailand aims to strengthen its reputation for food safety in export markets by promoting shrimp farming standards and is calling for government support in research and development to address shrimp diseases.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Ekapoj Yodpinit, president of the Thai Shrimp Association, said overall shrimp production in Thailand this year stood at 280,000 tonnes, matching the level recorded in 2022, while shrimp exports this year are projected at roughly 120,000 tonnes valued at 50 billion baht, a decrease from last year's figure of 144,113 tonnes valued at 50.9 billion baht. The decline in shrimp exports was largely attributed to low shrimp prices and an increase in production costs, leading some farmers to temporarily suspend their shrimp raising activties. However, farmers faced other challenges, too, such as diseases that are common in shrimp aquaculture as well as volatile weather conditions. Mr Ekapoj said the most significant risk factor remains the impact of diseases, which resulted in a significant reduction in the country's shrimp production. Mr Ekapoj said production from the upper southern region is expected to account for 33% of this year's output, with the eastern region generating 25%, the ...
Source: Bangkokpost
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