According to the Vietnam Association of Seafood Exporters and Producers (VASEP), raw shrimp prices in the Mekong Delta provinces have been on a downward trend since May. Specifically, traders are buying 20-30 shrimp per kg at VND250,000 per kg, down about VND40,000 per kg. 50 shrimp per kg was priced at about VND130,000-135,000 per kg a month ago, now down to VND95,000 per kg.
Traders bought 100-count white-leg shrimp at 66,000-70,000 VND/kg, down about 20,000 VND/kg. 50-60-count white-leg shrimp at 73,000 VND, down 30,000 VND/kg. 70-80-count white-leg shrimp at 70,000 VND/kg, down 25,000 VND/kg.
Similarly, the price of white-leg shrimp in the provinces of Ca Mau, Bac Lieu, Soc Trang, Ben Tre, etc. is also low, down sharply compared to the beginning of the year.
According to Ms. Kim Thu, a shrimp market expert of VASEP, the reason for the sharp drop in shrimp prices according to some businesses and traders is that supply exceeds demand. In addition, shrimp is in season, the weather is favorable so the harvest is large; at the same time, companies purchasing shrimp for export have reduced production.
Shrimp export activities of enterprises also face many difficulties due to slow market demand, supply chain congestion due to increased freight rates and lack of containers, and tensions in the Red Sea.
Meanwhile, shrimp prices from India, Indonesia, and Ecuador are offering low prices. World market prices remain low and Ecuadorian shrimp continues to be sold at increasingly low prices.
Raw shrimp prices in the Mekong Delta are decreasing. Photo: VASEP.
Raw shrimp prices from major global suppliers have all fallen. Raw shrimp prices in China in week 25 (17-23/6/2024) fell to near decade lows as production reached its seasonal peak. 60 count/kg shrimp fell 22% and 80 count shrimp fell 25% compared to the previous week. Prices are now near decade lows last recorded in the summer of 2020 during the COVID-19 pandemic. Chinese shrimp production is expected to remain high in June and July.
Ecuadorian shrimp prices in week 24 (June 10-16, 2024) were around $3.90/kg for 20/30 and $3.50/kg for 30/40. Prices for 40/50, 50/60, 60/70, 70/80 and 80/100 shrimp remained unchanged at $3.30/kg, $3.15/kg, $2.80/kg, $2.30/kg and $1.90/kg.
Excess supply causes prices to drop sharply, which also affects farmers' profits and ability to maintain sustainable operations.
In Indonesia, raw shrimp prices continued to decline across all sizes in week 25. Prices have now fallen 10% for 30 count shrimp and 8% for 60 count shrimp in five weeks.
Raw shrimp prices in Indonesia have fallen as processors try to push prices down after the US imposed new anti-dumping duties.
Shrimp prices in the coming time are unclear, because besides the market demand factor, it also depends on the main crop of shrimp powerhouses such as Ecuador, India, and Vietnam. Ecuador is even more difficult to predict because they can raise shrimp all year round.
According to some businesses, it is still uncertain whether shrimp prices will increase again, but the possibility of shrimp prices decreasing further is very unlikely, because recently some businesses have increased their purchasing prices. VASEP experts predict that raw shrimp prices will likely increase again by August at the latest when the main harvest season in the world's supply sources has passed, and demand from markets is more positive in preparation for the end of the year.
Authorities have recommended that farmers stabilize their mentality, avoid massive harvesting of farmed shrimp, maintain stable stocking with lower density, extend the farming time to increase the size of large-sized harvested shrimp, ensure quality, food safety, increase selling price, thereby increasing investment efficiency. Or it is possible to increase the farming density to increase the harvest yield, gradually harvest, the remaining quantity in the pond will have a favorable environment to grow faster. Actively coordinate with relevant agencies and units to grasp the situation of raw shrimp price developments, analyze the production efficiency of each size of harvested shrimp, and forecast the demand developments of the consumer market.
In the first five months of this year, Vietnamese enterprises exported shrimp to 103 markets, bringing in 1.3 billion USD, up 7% over the same period last year.
Source: https://danviet.vn/dieu-gi-da-khien-gia-mot-loai-thuy-san-giau-dinh-duong-giam-dong-loat-o-viet-nam-trung-quoc-an-do-indonesia-20240627190723687.htm
Comment (0)