Flooding in southern Thailand is jeopardizing this year’s shrimp crop. And, as a result, shrimp prices are expected to climb in Thailand, the world’s No. 1 shrimp exporter, in the coming months.
About 50,000 to 60,000 metric tons of shrimp were washed away by the floods, the Thai Frozen Food Association told the Bangkok Post. That represents about 8 to 10 percent of Thailand’s annual shrimp exports. Thailand’s southern provinces produce about 70 percent of the country’s annual shrimp exports.
In addition to damage at the farms, the nation’s transportation infrastructure — roads, railways and airfields — have also been damaged, making it difficult to get this spring’s shrimp crop, which is typically harvested in April and May, to market.
“Often, reports of flooding turn out to be exaggerated. This time, it looks like this is a significant natural disaster affecting Thailand,” said one U.S. East Coast shrimp dealer, adding that prices of U.S. Gulf shrimp may go up due to the production shortfall in southern Thailand.
U.S. shrimp imports from Thailand totaled 35.3 million pounds in January, up 10.3 percent from January 2010, according to the National Marine Fisheries Service.
In early April, shell-on, head-off Pacific whites raised in Asia were quoted in the low- to mid-USD 6 range for 16-20s, low- to mid-USD 5 range for 21-25s, low- to mid-USD 4 range for 26-30s and high-USD 3 range for 31-35s and 36-40s.
