Shrimp exports sink
Bangkok Post
Published: 6/04/2011
The Japanese disaster will cost Thai shrimp exporters dearly, with an estimated 10% contraction in shipment volume and five billion baht in lost revenue this year.
Together with the southern flooding, processors expect total shrimp exports to decline to 367,180 tonnes, about 50,000 tonnes below previous projections.
"The earthquake and tsunami have reduced consumption among the Japanese. They are holding fewer celebrations even during the upcoming Hanami or cherry blossom festival," said Panisuan Jamnarnwej, president of the Thai Frozen Food Association (TFFA).Shipments to Japan will likely shrink this year, as consumers may consider shrimp an unnecessary expense, one that can be substituted with cheaper types of meat.
The TFFA also estimates the flooding in southern Thailand will bring down total production to 550,000 tonnes for the year from an earlier target of 600,000 tonnes.
Southern provinces from Chumphon on down control 65% of Thailand's shrimp output, with the Lower South, which has been the heaviest hit by the floods, contributing most of the regional production.
The TFFA previously believed Thai shrimp would benefit substantially from Indonesia's shrimp farms suffering an outbreak of the highly infectious myonecrosis virus (IMNV). "We've missed an opportunity for 10-15% growth this year on top of last year's robust sales," said Kunyaphan Raengkhum, an adviser to the association.
Thailand exported 407,978 tonnes of shrimp products in 2010 for revenue of 96.6 billion baht, up by 9.48% from 2009.
Indonesia's IMNV epidemic has given a boost to Thai shrimp exports and their prices since last year, when processed shrimp was going for US$6,800 to $7,000 a tonne. The strong prices have continued, with exporters now being paid up to $8,700 a tonne.
"In fact, we would have lost nine billion baht in export revenue from the production damage this year, but the present high prices will reduce the impact to 5-6 billion baht lost," said Mr Kunyaphan.
Mr Panisuan, meanwhile, forecasts shrimp exports of 367,180 tonnes this year, down 11.1% from last year, for a value of 99.2 billion baht, up by 2.69%. Second-quarter exports will depend largely on production in the Eastern Seaboard provinces of Rayong, Trat and Chanthaburi.
Source: http://www.bangkokpost.com/business/economics/230569/shrimp-exports-sink
Volume set to fall by 10% this year
Bangkok Post
Published: 6/04/2011
The Japanese disaster will cost Thai shrimp exporters dearly, with an estimated 10% contraction in shipment volume and five billion baht in lost revenue this year.
Together with the southern flooding, processors expect total shrimp exports to decline to 367,180 tonnes, about 50,000 tonnes below previous projections.
"The earthquake and tsunami have reduced consumption among the Japanese. They are holding fewer celebrations even during the upcoming Hanami or cherry blossom festival," said Panisuan Jamnarnwej, president of the Thai Frozen Food Association (TFFA).Shipments to Japan will likely shrink this year, as consumers may consider shrimp an unnecessary expense, one that can be substituted with cheaper types of meat.
The TFFA also estimates the flooding in southern Thailand will bring down total production to 550,000 tonnes for the year from an earlier target of 600,000 tonnes.
Southern provinces from Chumphon on down control 65% of Thailand's shrimp output, with the Lower South, which has been the heaviest hit by the floods, contributing most of the regional production.
The TFFA previously believed Thai shrimp would benefit substantially from Indonesia's shrimp farms suffering an outbreak of the highly infectious myonecrosis virus (IMNV). "We've missed an opportunity for 10-15% growth this year on top of last year's robust sales," said Kunyaphan Raengkhum, an adviser to the association.
Thailand exported 407,978 tonnes of shrimp products in 2010 for revenue of 96.6 billion baht, up by 9.48% from 2009.
Indonesia's IMNV epidemic has given a boost to Thai shrimp exports and their prices since last year, when processed shrimp was going for US$6,800 to $7,000 a tonne. The strong prices have continued, with exporters now being paid up to $8,700 a tonne.
"In fact, we would have lost nine billion baht in export revenue from the production damage this year, but the present high prices will reduce the impact to 5-6 billion baht lost," said Mr Kunyaphan.
Mr Panisuan, meanwhile, forecasts shrimp exports of 367,180 tonnes this year, down 11.1% from last year, for a value of 99.2 billion baht, up by 2.69%. Second-quarter exports will depend largely on production in the Eastern Seaboard provinces of Rayong, Trat and Chanthaburi.
Source: http://www.bangkokpost.com/business/economics/230569/shrimp-exports-sink
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