Adirek Sripratak, President and CEO, Charoen Pokphand Foods Public Company Limited (CPF) says after the World Trade Organisation’s top court affirmed its ruling against US in an anti-dumping case involving Thai shrimp exports, it was good news for the entire shrimp industry since it would increase the competitiveness of Thai shrimp products in the US as exporters’ costs would decrease.

 The Department of Commerce in Washington has just announced duties for Thai shrimp at 3.18%, far lower than previous 6.05% penalties.

 

“The WTO ruling will benefit CPF as it gives the company more opportunities to increase sales in the US. CPF now expects to raise its shrimp shipments to overseas markets to 40,000 tonnes this year, compared with 34,000 tonnes last year”   

 

The overall Thai shrimp exports are expected to stand to benefit from the ruling, raising shipments to 400,000 tonnes this year from 350,000 tonnes last year. The country's shrimp export value is expected to grow by at least 15% this year to 80 billion baht this year. The US is Thailand's biggest market for shrimp, followed by Japan, the European Union, and Australia.

CPF:Media Center, August 29, 2008