Thailand permits the import of fresh shrimp

DNHN - On September 2, Thailand's Department of Fisheries made a temporary decision to import fresh shrimp to assist shrimp processing firms in maintaining production activities, with no effect on domestic shrimp pricing.

The authority to import shrimp has been agreed upon by all necessary stakeholders, including shrimp farming groups and wholesalers, according to Mr Chalermchai Suwant Torak, Director of the Fisheries Department. He did, however, emphasize that the measure. This is merely a temporary situation that will be resolved when things return to normal.

Mr Chalermchai stated that the shortage of domestic supply was caused by the closure of numerous shrimp farms as a result of the COVID-19 epidemic, which resulted in a 55% decline in shrimp output.

Ong Chalermchai Suwant Torak confirmed that the choice to import fresh shrimp will not affect domestic shrimp prices since a price insurance program is in place. To keep domestic shrimp prices stable, an insurance program was implemented in October 2021. Farmers will gain from 11.85-20.64 baht (around 0.3-05 USD) for 1 kilogram of shrimp under this program, but the price of shrimp supplied to consumers would rise by approximately 6.32-12.70 baht/kg.

The director of Thailand's Fisheries Department stated that this is the first time the government has not been compelled to pay for the price guarantee. Instead, the subsidy is provided by the private sector. Mr Chalermchai stated that the Ministry of Agriculture and Cooperatives has a clear strategy in place to revitalize the shrimp farming business, and that annual shrimp output is projected to rebound to 400,000 tons by 2023.

PV