Thai shrimp exports are expected to grow by 10-15% next year, with domestic supply to hit a record high four years after Thailand began wrestling with early mortality syndrome (EMS).
Somsak Paneetatyasai, president of the Thai Shrimp Association, said the country's overall shrimp industry has been recovering as farmers have achieved greater know-how in improving their techniques and upgrading their operations to prevent EMS outbreaks.
"Most Thai shrimp farmers have learned that to prevent the disease, shrimp should be raised in clean ponds with healthy, juvenile shrimp," he said. "We expect brighter prospects for the industry next year for shrimp, not only for prices but also for production."
The association forecasts Thailand will end this year with shrimp shipments of 200,000 tonnes, up 25% from a year before, worth 60 billion baht, a rise of 23% from 2015.
Thailand shipped 160,935 tonnes worth 54.5 billion baht from January to October this year, up 25.9% and 23.1%, respectively.
Thailand is projected to produce 300,000 tonnes of shrimp this year, up 15% from 2015.
Next year, the association expects Thailand to ship 230,000-250,000 tonnes, up 10-15% from this year's estimates.
Production is expected at 350,000 tonnes next year, the highest level in four years, after the Thai shrimping industry successfully began addressing the EMS issue and developed higher-quality breeds.
EMS was first detected at a shrimp farm in China in 2009, then moved through Vietnam before spreading to Thailand in mid-2012.
The outbreak has severely damaged the Thai shrimp industry and exports of related products.
Before the disease, Thailand produced 500,000 to 600,000 tonnes of shrimp annually.
According to Mr Somsak, global demand for shrimp is also set to be robust, while many of the world's shrimp producers such as Vietnam, India, India, Indonesia, China and Brazil have yet to tackle their EMS problem.
He also predicted stabilised shrimp prices thanks to relatively low global shrimp production, lower catches of sea shrimp and strong demand. Prices are expected to average 130 baht per kilogramme.
Mr Somsak said the export structure for Thai shrimp is likely to stay unchanged next year, with the United States accounting for 40% of total shipments, Japan for 20-30%, China for 10% and the European Union and Australia for the rest.