With the present gloomy forecast for economic performance in the West, the TFFA
suggests shrimp producers eye more East Asian markets such as South Korea, China and Hong Kong, which show good growth potential.
Panisuan Jamnarnwej, president of the TFFA, encouraged shrimp farmers to form as a group or in cooperatives, and supply product only to certified exporters or those that are members of the association to prevent any possible business risks, such as refusal to buy when prices change.
Cooperation contracts, including contract farming for the TFFA to supply quality tilapia for export, are being opened to interested parties.
"Bags for shrimp exported by Vietnam to North America still have to be produced in the USA," said the TFFA
"Buyers can be sure that the crop of shrimp now being harvested in Thailand is free of antibiotic residues," stated Paiboon Ponsuwanna, president; of the Thai Frozen Foods Association (TFFA).
Paiboon of TFFA contended that the EU inspection system is inconsistent.
Shrimp farmers and the Thai Frozen Foods Association (TFFA) have estimated that the tariff hikes would cut shrimp exports to Europe in half, from seven billion baht ($270 million) to 3.5 billion ($135 million).
TFFA Vice President Somsak Paneetatysai, meanwhile, said banks should extend credit to farmers and the government should help by providing working capital and dropping import duties on raw materials used for feed.