Even so, Tesco Lotus is committed to procuring some 2 billion baht worth of shrimp from Thai farmers for distribution in Thailand. That would be a 20% jump over 2011.
The contract was signed July 10 to supply of 12,000 tons from shrimp farmers and cooperatives.
Thai Frozen Foods Association statistics show 2,860 tons of shrimp from Thailand: fresh, chilled, frozen and prepared items, were exported to Vietnam in the first four months of 2012, up by 302% year-on-year. They were valued at 681 million baht, up by 372%.
Bunjonk attributed the growth to low shrimp prices, which have been falling continuously from 166 baht or 50 heads a kilogram early this year to an average of 133 baht in April and 122 baht this month, year-on-year drops of 19% and 26%, respectively.
Shrimp is an export-oriented industry, as 90% of the 600,000 tons produced annually are shipped abroad. The US, the biggest market for Thai shrimp, imported 29,426 tons from Thailand in the first four months 0f 2012, down 31% year-on-year, worth 8.5 billion baht, down by 27%. Shipments to Europe totalled 14,191 tons, down by 12.3% year-on-year, worth 4 billion baht, down by 0.87%.
He did not provide figures, but the Vietnam Daily magazine reported Vietnamese shrimp exports to Japan, the country's main market, increased by 12% year-on-year in January and February. Vietnamese shrimp exporters garnered $600 million from the Japanese market last year, 25.3% of their export revenue.
Tesco chairman Suntorn Arunanondchai said his chains procurement for next year should grow consistently as there is great demand in the world market for shrimp from Thailand. Tesco Lotus has a policy to promote sales of Thai shrimp, fruits, and other Thai foods to serve the government's campaign to promote Thailand as the Kitchen of the World, he said.
