Thai white shrimp prices soar

According to the latest market data, Thailand led the overall rise in the FOB price of white shrimp in shell, with the price of 60 shrimp climbing to 137.5 baht (about 3.91 US dollars) per kilogram, followed by the price of 70 shrimp at 132.5 baht per kilogram.  This series of data clearly reflects the current strong demand and supply of Thai white shrimp market. 

Strong market demand drives up prices 

Thailand white shrimp prices rose, mainly due to continued growth in market demand.  With the gradual recovery of the global economy and the improvement of people's living standards, consumers 'demand for high-quality aquatic products is increasing.  Thai white shrimp has won wide recognition in the global market for its delicious taste and rich nutritional value.  Especially during holidays, white shrimp as a delicacy on the table, but also by consumers enthusiastically sought after.  As a result, packers have increased procurement efforts to meet market demand, thus pushing the price of white shrimp further up. 

Limited supply exacerbates market tensions 

However, in sharp contrast to the strong market demand, the supply of Thai white shrimp is relatively limited.  Despite a full harvest in the next four weeks, farmers remain cautious about stocking density.  This is mainly due to factors such as rising farming costs, disease and unpredictable weather conditions in recent years.  In order to ensure farming efficiency and product quality, farmers have to reduce stocking density, resulting in tight market supply.  This imbalance between supply and demand undoubtedly provides strong support for the rise in white shrimp prices. 

Packers are active and market demand is further released 

It is worth noting that at the current high price of white shrimp, the activities of packers are unusually active.  They are keen to capture the growth trend of market demand and have increased procurement efforts to meet the order demand of domestic and foreign markets.  This positive market behavior not only pushed up the price of white shrimp, but also further released the market demand potential.  As the holiday season approaches, it is expected that the demand for white shrimp by packers will continue to rise, thus driving market prices further higher.