The local shrimp industry is expected to grow stronger next year, boosted by Thailand's effective control of shrimp diseases, recovering consumption worldwide and an easing of the Covid-19 pandemic.
According to Somsak Paneetatyasai, president of the Thai Shrimp Association, shrimp exports are expected to increase by 10% in volume in 2022 from 160,000 tonnes forecast for this year, in turn up by 7% from a year earlier.
He did not give any estimate on the export value for 2022, saying the figure will be subject to the exchange rate in the year ahead.
However, Mr Somsak expects this year's export value is likely to top 48 billion baht, an 11% increase from 2020.
For the first 10 months of this year, Thailand's shrimp export volume was reported to have increased by 4.43% to 128,758 tonnes, with the value rising by 9.42% to 39.25 billion baht compared with the same period last year.
Higher exports stemmed largely from rising demand from China and Japan after the Covid-19 pandemic in those two countries eased and the baht's weakness.
Key export markets include the US, which accounts for 28% of shrimp exports, followed by Japan at 23% and China at 14%.
Meanwhile, shrimp production is expected to grow 4% next year to 300,000 tonnes from an estimated 280,000 tonnes this year and 270,000 tonnes recorded in 2020.
In 2021, overall shrimp production worldwide is expected to surge by 16% to 4.23 million tonnes thanks largely to higher production in China (800,000 tonnes, up 45% from 2020), India (730,000 tonnes, up 22%), Vietnam (526,000 tonnes, up 12%) and Central and South America (1.38 million tonnes, up 12%).
Next year's forecast is not yet available.
According to Mr Somsak, given a host of risks, particularly rising inflationary pressure in the US that may impact imports, the cut in Generalized System of Preferences by the EU, container shortage and high freight rates, the government should help boost domestic shrimp consumption to 1.5 kilogrammes per head per year or 99,000 tonnes per year in 2022 from 1.15kg or 75,720 tonnes now.
The government is being urged to beef up research and development to tackle shrimp diseases, reduce production costs and offer soft loans to shrimp farmers and related entrepreneurs.