Thailand expects 20-pct growth in shrimp exports for 2020
Thailand is hoping for a recovery in shrimp exports which are forecast to grow 20 percent in 2020 thanks to increased production.
Bangkok (VNA) – Thailand is hoping for a
recovery in shrimp exports which are forecast to grow 20 percent in 2020 thanks
to increased production.
Somsak Paneetatyasai, President of the Thai Shrimp Association, said higher production efficiency and efforts to tackle shrimp diseases should lead to an output of 350,000-400,000 tonnes in 2020, up from 290,000 tonnes this year.
Next year's shrimp exports are forecast to grow to 192,000 tonnes from 160,000 tonnes in 2019, which would be a 5-percent dip from 2018.
Somsak said the value of exports is also likely to grow by 20 percent next year from 50-55 billion THB (1.65 – 1.82 billion USD) in 2019. The figure this year fell 11 percent from 2018 due to continued baht appreciation and shrimp diseases.
The association reported that for the first 10 months, Thailand shipped 135,249 tonnes of shrimp abroad, with export value down 11.8 percent to 40.2 billion THB. Key export markets include the US, Japan, China, Australia and the EU.
Somsak said domestic shrimp production in 2020 will fare better than the past two years thanks to better aquaculture technology and effective shrimp disease control. He also voiced optimism about the long-term prospects of Thai shrimp being boosted by higher consumption demand.
Global shrimp production is estimated at 3.4 million tonnes this year, up 5 percent from 2018. The higher production stems largely from India, Vietnam and countries in Central and South America./.
Somsak Paneetatyasai, President of the Thai Shrimp Association, said higher production efficiency and efforts to tackle shrimp diseases should lead to an output of 350,000-400,000 tonnes in 2020, up from 290,000 tonnes this year.
Next year's shrimp exports are forecast to grow to 192,000 tonnes from 160,000 tonnes in 2019, which would be a 5-percent dip from 2018.
Somsak said the value of exports is also likely to grow by 20 percent next year from 50-55 billion THB (1.65 – 1.82 billion USD) in 2019. The figure this year fell 11 percent from 2018 due to continued baht appreciation and shrimp diseases.
The association reported that for the first 10 months, Thailand shipped 135,249 tonnes of shrimp abroad, with export value down 11.8 percent to 40.2 billion THB. Key export markets include the US, Japan, China, Australia and the EU.
Somsak said domestic shrimp production in 2020 will fare better than the past two years thanks to better aquaculture technology and effective shrimp disease control. He also voiced optimism about the long-term prospects of Thai shrimp being boosted by higher consumption demand.
Global shrimp production is estimated at 3.4 million tonnes this year, up 5 percent from 2018. The higher production stems largely from India, Vietnam and countries in Central and South America./.
You should also see
Vietnam an attractive destination for electronics, semiconductor investors: Official
Vietnam has strong infrastructure and research and development incentives as well as a skilled workforce, making it an attractive for “eagles” worldwide in the electronics and semiconductor industry, according to Deputy Minister of Planning and Investment Tran Duy Dong.
See more
World
Thailand promotes AI, creative economy
The Federation of Thai Industries (FTI) is planning to establish new units to align with the government's policy to promote artificial intelligence (AI) and the creative economy as levers of soft power.
World
Laos, Myanmar review border cooperation
The sixth conference reviewing the check, repair, and construction of border markers between Laos and Myanmar has been held in Laos’s Bokeo province, aiming to foster security and order along their shared border.
ASEAN
Food security, climate change top ASEAN agenda during Malaysia’s chairmanship
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
World
ASEAN foreign ministers call for end to Myanmar violence
ASEAN foreign ministers on April 19 issued a statement calling on all parties to immediately cease violence and exercise maximum restraint in the border areas of Myanmar.
World
Indonesia’s Mount Ruang continues to emit ash
After a series of eruptions earlier this week that forced thousands to evacuate, Mount Ruang in North Sulawesi, Indonesia, continued to emit ash on April 19 afternoon.
