Thailand Shrimp Market Update : October 29, 2015
Thailand shrimp prices started to move up 2 weeks ago and some sizes continuing to increase. We expect that prices will remain at these levels or somewhat higher through at least early December. We see very little possibility for prices to move down during this period.
Raw mat supply is adequate and should remain so through December. However demand from packers to fulfill needs for pending orders will remain strong and likely outstrip supply.
Based on current shrimp feed and Post larvae sales, Thailand is expected to have very low production during Q1 2016. 2 main factors: low raw mat prices discouraging famers from re-seeding and cool season approaching.
Thai Baht is strengthening against US dollar and exporters already lost approx. 3-4% during the past 2 weeks. Rising prices and currency strength are pushing Thailand CNF/DDP prices up.