Outlook 2018: Siam Canadian MD Jim Gulkin : Jan 10, 2018
Firm plans to stay in expand product ranges and supply sources as shrimp production is expected to jump 10% in 2018.
Kim Tran : Intrafish
Jim Gulkin, managing director at shrimp supplier Siam Canadian, shared his expectations for 2018.
The company anticipates rapid shrimp production growth in India as well as rapidly changing markets for pangasius.
What were the three most significant developments for your business in the seafood industry in 2017?
The start of operations of our China import and distribution company, Guangzhou Siam Canadian Seafood Distributors. We are importing and distributing a wide range of frozen seafood items. Our first China operation is located in Guangzhou and we will be expanding to other cities in China going forward. This is Siam Canadian’s second import and distribution company. The first (Siam Canadian Gourmet Limited) is operating from Thailand and 2017 saw its business continue to grow.
Further growth and importance of India as a shrimp resource. India is now the world’s largest exporter of shrimp. The speed of India’s growth in the shrimp industry is unmatched by any other country and continues, for now, unabated. Fortunately, our own business there is also keeping pace with the growth of the Indian shrimp industry.
Continued recovery of Vietnam’s shrimp industry reflecting our own growth in Vietnam exports.
Looking ahead, what will be the three most important developments in 2018?
Expect global shrimp production to grow by as much as 10 percent, possibly more. Thailand’s shrimp production is expected to get back on the road to recovery, India’s shrimp production will continue to grow as will Vietnam’s. Indonesia’s production for 2018 as yet unsure. China’s shrimp exports will continue to drop as production problems there continue and domestic consumption continues to grow.
Pangasius markets will continue to change rapidly; Vietnamese exports to EU will continue to drop, exports to China and other Asian countries will continue to rise and I expect the US market will stabilize to some degree as the handful of Vietnam processors who can ship to the USA become more accustomed to the new USDA inspection regime.
The US Catfish Inspection program went into effect in August.
Regulation and certifications for sustainability, environmental as well as labor issues will continue to grow in importance. The industry will continue to grow more complicated and this may result in some shaking out within the industry.
What changes and developments do you expect your business to undergo next year?
Our import and distributions businesses will continue to grow in importance for our business. We will continue to expand product ranges and supply sources.
We also see continued expansion and growth for our traditional seafood export businesses. We have been fortunate that we have achieved steady growth for our businesses year-after-year and we expect that to continue in 2018 and beyond.