Over recent years, negative factors here and elsewhere have contributed to disappointing Thai fisheries performance, including the outbreak of the Early Mortality Syndrome (EMS) that set in around the 2012 yearend, and brought about market share losses in shrimp export to major markets like the US that used to be the largest export destination for them.
During 2014, the situation deteriorated following the termination of EU's GSP privileges granted to Thailand while major competitors, e.g., Vietnam, Indonesia and Ecuador, continue to receive that concession. In addition, the relegation to Tier 3 status together with a “yellow card” given to Thailand as a result of a nonconformity to the EU's IUU (illegal, unreported and unregulated) fishing standards have more or lessdamaged the Thai fishing industry's image, though sanctions have yet been implemented.
Taking into account these problems, KResearch forecast that the Thai fishery product shipments will be contracting for the third year in a row, slumping further by 10 percent after a plunge of 13.3 percent during the first five months of the year (5M15), with total fishery exports reaching only USD2.182 billion. Declines were seen in every major market, e.g., the US, EU, Japan and ASEAN. The biggest slump of 32 percent was witnessed in the EU.
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