12.03, Oct. 1

Frozen seafood supplier Siam Canadian Group said it has grown its sales 15% this year so far, despite early mortality syndrome (EMS) decimating Thai shrimp production.
The company is based in Bangkok, Thailand and does big business from the EMS-hit country, usually. This year, the company’s sales from Thailand are down 41% in dollar value, said Jim Gulkin, the group’s Canadian-born founder and managing director.

Despite this hit in Thailand, sales in Vietnam are up 70% in value; China sales are up 100%; and Indonesian sales up 75%, driven by increased volumes and higher prices, he said.

The group’s year-to-date sales are $225 million, he said.

In terms of the markets, Gulkin said inventory levels are low in the US and sales are dropping.

This means buyers are in danger of having to buy at high levels, running the risk of being left with high-priced raw material they can’t sell.

In the UK, one of the largest European market for Asia shrimp, Thai product has been replaced by Indian, Indonesian and Chinese shrimp, he told Undercurrent News.

Source:

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