In the past two weeks, prices of shrimp materials in Bạc Liêu have unexpectedly spiked, with some types increasing by over 100,000 VND/kg.
The price of 30 count live black tiger shrimp ranges between 170,000 and 180,000 VND/kg, up over 50,000 VND/kg. The 20 count is sold from 290,000 to 300,000 VND/kg, up over 100,000 VND/kg compared to 10 days ago. Similarly, the price of 30 count live black tiger shrimp is at 150,000 VND/kg, also up nearly 20,000 VND/kg.
Tạ Hoàng Nhiệm, Chairman of the Bạc Liêu Shrimp Association, stated that rising shrimp prices are a good sign, building up an expectation for high demand at the end of the year. However, unfortunately, many farmers currently have no shrimp to sell. This is because several households abandoned their ponds in the fear of loss. Some others sold small-sized shrimp to limit their losses.
According to traders, the sudden and strong increase in the price of oxygenated shrimp in recent days is attributed to an increase in domestic consumption, a surge in exports to Hanoi, some northern provinces, and China, amidst the short supply. Traders believe that with such a short supply, the prices of live shrimp are likely to remain high by the end of the year.
Despite the rising shrimp prices, many farmers remain hesitant to resume shrimp stocking. Explaining this, farmer Dương Tùng Lâm in Cái Tràm hamlet of Long Thành commune, Vĩnh Lợi district, said that many shrimp farmers lack capital but cannot access bank credit, so they often buy input materials on credit from agencies.
Meanwhile, as prices of shrimp have declined for a long time and garnishment is difficult, agencies reduce their investment in shrimp farming households. Additionally, farmers are not entirely confident in resume farming, as they only have seen a rise in live shrimp. Small-sized shrimp (80-100 pcs/kg) have slightly risen, but farmers still have not made a profit.
In light of the market price, Nguyễn Hoàng Xuân, director of the Bạc Liêu Fisheries Department, advises shrimp farmers to stay informed about market conditions and carefully decide to start a new shrimp crop.