fnWEB Industry Focus: Ministry of Commerce moves to shore up plummeting shrimp prices.

(From fnWeb.com)

fnWEB - Bangkok - December 4, 2003 - MOC steps up measures to lift price of shrimp.

The Ministry of Commerce is moving to increase domestic shrimp consumption to shore up shrimp prices, said the Commerce Minister Wattana Muangsuk.

Wattana said that he had discussed with shrimp farmers and governors of the involved provinces to lay down measures for raising local demand on shrimp consumption.

"We need to monitor the quality of shrimp to ensure that the product meets quality standard to attract more consumers, " Mr. Wattana said.

The ministry has also joined hands with department stores to launch a campaign using blue flag as the symbol of high quality shrimp sold on the shelves of the department stores.

The Minister said the price now moved a bit higher to 100-105 baht a kilogram containing 60 shrimp while farmers demanded that the price at 110 baht per kilogram.

"If the plan doesn't work, the government will intervene the market and allow farmers to deposit their products with the government," he said.

Asked about shrimp farmers threatening to rally at the government house, Mr. Wattana said that the present situation was not likely to spur farmers to protest against the government.

He added that he believed that after the implementation of the scheme, the positive change would be seen.

On November 18, 2003, over 1,000 shrimp and prawn farmers from Chachoengsao, Suphanburi, Chanthaburi, Nakhon Pathom and Samut Prakarn gathered at the Royal Plaza grounds to urge the government to seek solutions to the problem of slumping shrimp prices which have fallen to the lowest in almost 20 years. At present, the wholesale prices of some shrimp have been …