CP Foods cuts price of shrimp feed, seed, to aid farmers

Thai company Charoen Pokphand Foods (CP Foods) is taking steps to try and ease the production cost of shrimp for its farmer customers, during what it called the current "shrimp price crisis".

Photo Credit: CP Foods

It has reduced the price of its baby shrimp and shrimp feed.

Pairoj Apiruknusit -- senior executive vice president of CP Foods -- said the company is looking to help alleviate the suffering of shrimp farmers, following a steep decline in domestic shrimp prices, which have followed global prices down.

The company has reduced the price of baby shrimp by THB 0.19, to THB 0.16, while a 25 kilogram bag of shrimp feed has been reduced in price to THB 25 ($0.79).

The measures are set to be in place from May 4 to June 30.

"CPF is aware of the hardship of farmers and is committed to support them to reduce

farming costs by reducing production materials costs," said Pairoj. "This aims to assist farmers to continue operating their business and help Thai shrimp industry to gradually overcome the crisis."

At the Brussels seafood show at the end of April, sources told Undercurrent News farmed shrimp prices were still yet to hit the bottom as good harvests, high US stocks and China’s smuggling crackdown sent chills through the global market.

Simultaneously, shrimp processors now fear being tied to low-priced contracts when raw material prices bounce back, others said.