Thailand’s shrimp production is forecasted to decrease by 4% year-on-year in 2024 due to disease outbreaks, unstable weather, and declining market prices, according to the Thai Shrimp Association.
Ekapoj Yodpinit, president of the association, stated that shrimp production is expected to drop to 270,000 tonnes, down from 280,000 tonnes last year. He attributed the decline to disease outbreaks, particularly early mortality syndrome (EMS), which has plagued farmers for over a decade, as well as adverse weather conditions affecting shrimp farming.
Falling prices have also discouraged many farmers, prompting delays in new farming cycles. In light of these challenges, the Agriculture and Cooperatives Ministry has identified the sea shrimp sector as a priority area under the national agenda.
The association has called on the government to allocate 2 billion baht to address issues within the shrimp industry. Effective disease management, Mr. Ekapoj noted, could boost production to 400,000 tonnes annually within three years, potentially mitigating over 600 billion baht in economic losses.
GLOBAL SHRIMP MARKET CHALLENGES
Thailand is not alone in facing a decline in shrimp production. Global output is expected to fall by 4% year-on-year in 2024, with major producers like China, Ecuador, India, and Vietnam also reporting decreases.
From January to October, Thailand exported 109,048 tonnes of shrimp worth 34 billion baht, marking a 1% drop in volume and a 6% decline in value compared to the previous year. For 2024, exports are projected to remain between 120,000-130,000 tonnes, valued at approximately 40 billion baht, similar to last year.
COMPETITION AND EXPORT MARKETS
Ecuador, the world’s largest shrimp producer, is emerging as a significant competitor for Thai shrimp exports. Ecuador produces around 1.3-1.4 million tonnes of shrimp annually, accounting for 20% of its GDP. Price dumping in the global market by major producers could further challenge Thailand’s position in key export markets, including Japan, the US, China, South Korea, and Taiwan.
The Thai shrimp industry is urging swift action to overcome these obstacles and ensure a sustainable recovery.
Source: Bangkok Post
