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April 24, 2015

India and Thailand

Thai Union to Build Processing Plant in India

 

Thai Union Frozen Products (TUF), a global seafood company, is planning to build a new shrimp processing plant in India through a joint venture formed with Avanti Feeds, a publicly listed Indian firm in which TUF has a 25 percent stake.  The new shrimp plant will have a production capacity of 15,000 metric tons per year, compared with 8,000 tons per year at the existing plant running under Avanti Feeds.  It will require an investment of anywhere from $10 million to $20 million.

 

Avanti Feeds, a processor and exporter of shrimp feed and frozen shrimp, reported total revenues of $273 million last year, rising from $163 million in 2013.  Its profits nearly doubled to $20 million from $10 million.

 

Rittirong Boonmechote, president of the global shrimp business at TUF, said Thailand’s shrimp output was expected to increase by 20-25 percent to 250,000-275,000 tons this year, after plunging to a record low last year because of the continued impact from early mortality syndrome.

 

The Thai shrimp farming industry has also been hit by the appreciation of the baht, which over the past three years has strengthened by 25 percent against the Vietnamese dong and 32 percent against the Indonesian rupiah.

 

Source: The Nation.  TUF Plans New Shrimp Plant Via JV in India.  Pichaya Changsorn.  April 24, 2015.

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