Bangkok, June 29 – The Department of Fisheries reveals the global situation of shrimp oversupply. The production exceeds the demand of the buyer country, causing the price to fall. Accelerate the balance of supply and demand. and promote the domestic market to boost prices to help farmers

Mr. Praphan Leepayakhun, Deputy Director-General of the Department of Fisheries Revealed the situation of production and prices of shrimp around the world that there was an oversupply situation, producing more than the demand of the buyer country. resulting in low prices including prices in Thailand

In the first 5 months of 2023, Thailand had marine shrimp production. (White shrimp vannamei and black tiger shrimp) from aquaculture The total volume was 100,600.45 tons, an increase of 8.18% compared to the same period last year. According to data from 2017-2022, Thailand will have a high production of marine shrimp in the market during May-November. The price of shrimp will decline in 2 periods in the year, namely during April-May. and during September-October

As for the situation of world shrimp production and price in the first half of 2023, it was found that Ecuador's shrimp production which is one of the main shrimp producing countries in the world The quantity is increasing rapidly. Oversupply situation of shrimp production in the world market. and cause shrimp prices in Ecuador including global market has been steadily decreasing since the beginning of 2023 until now This is the beginning of the shrimp harvest season of major producing countries such as India, Ecuador, Vietnam, Indonesia and Thailand, while major importing countries such as the United States postpone their orders as shrimp stocks are still sufficient for consumption. Until the stock has been released to the market, then a new order will be initiated. together with the economic downturn and inflation of importing countries including the effects of the Russo-Ukrainian War affecting the behavior of consumers who want cheap products This condition affects the selling price of shrimp in the world market. And the selling price of shrimp within the main producers around the world has decreased.

However, the situation of falling shrimp prices is still cyclical that can be found from the past to the present. But the severity of the impact may increase. due to a limited buyer market or demand While the shrimp production or supply has continued to increase, so that the Thai shrimp industry can continue to drive. Shrimp farmers should consult with cold storage operators and processing plants. in order to plan shrimp production to meet the size, quantity and time to harvest the produce exactly as the market demands coupled with reducing production costs by reducing energy costs, such as using solar cells Use of microorganisms or modifying the farm management model to replace the use of drugs and chemicals. Releasing shrimp fry at an appropriate density rate to reduce damage during farming and feeding in the right amount In addition to reducing the cost of food. It also reduces the accumulation of waste in the pond. which is the cause of the disease that is the hidden cost of shrimp farming as well

However, even though importing countries slow down orders But government agencies and all relevant sectors have organized activities and projects to stimulate shrimp consumption in the country. to increase shrimp distribution channels for farmers Most recently, on June 16, 2023, the Executive Committee of the Mutual Fund to Help Farmers (KTB) approved the Department of Internal Trade. Implementing a project to help shrimp farmers in 2023 according to measures to increase channels and connect sales for domestic consumption. by providing compensation for the price of shrimp to farmers participating in the project At a rate of not more than 20 baht per kilogram and management fees in terms of marketing expenses such as size and quality management fees, storage fees, packaging fees, and transportation costs to shrimp farmers or collectors who participate. project At a rate of not more than 10 baht per kilogram, with a target quantity of 5,000 tons, which interested farmers can apply to participate in the project. at the provincial commercial office in the area

Deputy Director General Department of Fisheries Emphasizes that although the current situation in the global shrimp industry may not be good. And recovering the Thai shrimp industry will be a very challenging goal. But if all stakeholders throughout the supply chain Both government agencies, the private sector, the agricultural sector, as well as educational institutions cooperate and work together to solve problems seriously. Adhere to the public interest is important. with a focus on cost reduction production efficiency enhancement and promoting environmentally friendly shrimp production. to increase marketing channels It is believed that it will bring stability and sustainability in the occupations of shrimp farmers and related businesses.-Thai News Agency

Source: Thai News Agency