Thailand’s shrimp exports forecasted to surge by 10% next year

A 10% surge in Thailand’s shrimp exports is on the horizon for the upcoming year, brought about by a minor uptick in local shrimp production and bolstered demand primarily from the United States.

Thai Shrimp Association President Ekapoj Yodpinit disclosed that shrimp production in Thailand this year mirrored the previous year’s figure of 280,000 tonnes. Meanwhile, the country’s shrimp exports for this year are estimated to stand at approximately 120,000 tonnes, priced at 50 billion baht (US$1,436,493,500).

This represents a downturn from the earlier record of 144,113 tonnes valued at 50.9 billion baht.

The fall in shrimp exports is mostly pinned on low shrimp prices and elevated production expenses, which forced some farmers to temporarily halt their shrimp farming activities. Simultaneously, shrimp farmers wrestled with other challenges…