China show blog : Thai shrimp production to reach 220,000 tons by year end as prices stay high : Nov 5, 2014
Thursday, Nov. 5, 12.31 pm C.S.T.
Thai shrimp farmers are set to produce around 220,000 metric tons of vannamei by the end of the year, Jim Gulkin, managing director of Siam Canadian Group, told IntraFish during a pit stop at the firm’s booth.
For 2015, he said, production is expected to reach 300,000 metric tons, “if we’re lucky,” he said.
Prices for raw material stayed relatively high, albeit dropping from previous year levels.
He quoted raw material prices of THB 198 60 pieces per pound, delivered United States, THB 192 for 70 pc./lbs, THB 182 for 80 pc./lbs, THB 165 for 90 pc./lbs, and THB 155 for 100 pc./lbs.
This price trend goes against the rest of Asia, he said. “We’ve been seeing weak prices and a quietened down market over the past month, which is a sign of adequate inventory in the United States.”
Buyers have been holding off purchases for next year, waiting for prices to move down, but some bids of retailers are floating around.
Prices in India and Vietnam are down, and also Indonesia’s prices are starting to drop, he said.
Despite the still major supply shortages it is “generally a weak and unsettled market,” he said.