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September 16, 2015

Thailand

Thai Union Offers a Guaranteed Price for Shrimp

 

On September 16, 2015, Thai Union Frozen Productsthe world’s largest producer of shelf-stable tuna products and one of the largest seafood producers in the world with annual sales exceeding $3.6 billion and a global workforce of over 32,000 people—announced a guarantee price for farmed shrimp, committing to buy 12,000 metric tons of shrimp at a price of $4.18 kilogram.  The guarantee price will be available until March 2016.

 

The continuing fall in domestic shrimp prices has discouraged farmers from stocking their ponds, said Rittirong Boonmechote, president of Thai Union’s global shrimp business.  “Without a guarantee, this could negatively affect the industry in the next three to four months.  This impact would be felt domestically and internationally, as shrimp is one of Thailand’s top export items,” he said.

 

In the first eight months of this year, Thailand’s shrimp output totaled 135,057 metric tons, an 18% increase from the same period last year.

 

Thai Union expects the country’s full-year output to increase 20% from last year, to 250,000 metric tons, thanks to its price-guarantee scheme.  Last year, the level was around 200,000 tons, down from a peak of around 640,000 tons before early mortality syndrome hit.

 

Source: Undercurrent News [eight free news reads every month].  Editor, Tom Seaman (undercurrent@undercurrentnews.com).  Thai Union Hopes Shrimp Price Guarantee Scheme Helps Production Hit 250,000t.  September 16, 2015.

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