Marine Gold reaping benefits of 2013 losses as shrimp production rebounds

As early mortality syndrome (EMS) caused Thai production to dive, raw material prices rocketed. EMS caused production to dive under 200,000 metric tons, compared to the peak of over 600,000t.

This left packers fighting for shrimp for orders.

“I shipped every container in 2013, so we lost $10 million,” Choopong Luesukprasert, Marine Gold’s managing director, said.

The aim of continuing to ship containers at a crisis time for the Thai shrimp sector, was about maintaining business contacts, he said, during the Thaifex: World of Food Asia show in Bangkok.

“But, since, we have kept this business and gained more, as we reliable,” Choopong Luesukprasert, Marine Gold’s managing director said.

For 2016, shrimp production in Thailand is rebounding and prices for raw material are competitive with other sources, such as Indonesia, India and Vietnam.

Production in 2015 is said to have been around 240,000t, up from 210,000t in 2014.

For 2016, forecasts range from 260,000t, up to 300,000t.

The later is attainable, said Luesukprasert.

“I think 300,000t is realistic. Production hasn’t started like we expected, as we have had such a long drought in Thailand. But, we think it will start picking up from now,” he said.

Selling shrimp to the US is the main export market for Marine Gold, with the export target for 2016 at 45 million pounds, he said.

Due to the forecasted increase in Thai raw material output in 2016, Luesukprasert hopes Marine Gold can expand its output by 20-25%. This is ahead of the forecasted increase in production.

The company has also launched a ready-to-eat brand for the domestic market.

Luesukprasert said he plans to export the product range in the future, however.

The range is being sold in Thai retail under the brand “Yummy Tale”; featuring products such as shrimp pad Thai and shrimp green curry with jasmine rice.