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July 30, 2015

Thailand

Shrimp Prices Fluctuate

 

Shrimp raw material prices are fluctuating in Thailand, as packers wait for the peak harvest season in September/October.

 

“Right now, the raw material prices in Thailand are up and down, depending on demand and supply,” said Rittirong Boonmechote, president of the shrimp business unit of Thai Union Frozen Products, now the largest shrimp processor in Thailand.

 

From July 20 to 25, 2015, prices for raw, whole, 60-count shrimp were $4.70 a kilogram, for 70 count $4.41 to $4.61 and for 80 count $4.27 to $4.30.

 

At the beginning of May 2015, prices of raw, whole, 60-count shrimp were $4.27 to $4.41 a kilogram, for 70 count $3.84 to $4.07 and for 80 count $3.27 to $3.70.

 

Although Thai prices are down a lot, compared to the same time last year when raw, whole, 70-count shrimp were selling for $5.84 to $6.04 a-kilogram, a drop of 33% year-on-year, they are still more expensive than prices in Indonesia and Ecuador.

 

Satasap Viriyanantawani, general manager for the Thai business of Siam Canadian Foods, an Asian frozen seafood supplier headquartered in Bangkok, said: “I personally believe that prices will be fluctuating between now...[and] August.  ...Sometime in August, supply on small sizes will start improving and prices on those...sizes will start to come down.  September and October should be peak production season.  ...Another key factor will be demand from USA and Canada.  If some buyers are trying to buy more aggressively covering their year-end holidays, then prices may bounce back.”  Medium sizes will make up most of the harvests from Thailand, Viriyanantawani said.

 

There is a need for Thai prices to drop, so they can compete with shrimp from other origins.

 

Source: Undercurrent News [eight free news reads every month].  Editor, Tom Seaman. Thai Shrimp Prices Fluctuating as Peak Supply Time Nears, Packers Hope for Drop.  Tom Seaman  (undercurrent@undercurrentnews.com).  July 29, 2015.

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