Shrimp exports and prices in Cà Mau Province are recovering after being heavily affected by Covid-19.
According to Cà Mau People’s Committee, the province’s shrimp export turnover during the first four months of the year saw a 20 percent drop year-on-year due to Covid-19. But shrimp export turnover is now only 10 percent lower compared to the same period last year.
Since shrimp exports are surging, the price of shrimp material is also rising. For instance, whiteleg shrimp size 100 pcs per kilo is being sold for VNĐ86,000 (US$3.7) per kilo, up 20 percent compared to mid-March.
The price for giant tiger shrimp, while still lower than before Covid-19, has seen an increase of VNĐ10,000 – 15,000 per kilo compared to mid-March.
Dương Vũ Nam, deputy director of the provincial Department of Industry and Trade, said that several markets for shrimp such as China, South Korea, Japan and some European countries are relaxing their Covid-19 prevention measures and resuming their imports.
To facilitate export growth quickly and sustainably, Nguyễn Tiến Hải, chairman of the People’s Committee, has instructed departments and authorities to push for more productive farming models and carry out demand and market price forecasts to help farmers with production.
Businesses should resume trade activities quickly with the countries that have controlled the pandemic early, and find new markets as opposed to waiting for existing ones where COVID-19 is still active, Hải said.
Cà Mau has one of the largest aquaculture farming areas in Việt Nam, at around 302,000 hectares, and exports nearly $1.2 billion worth of shrimp annually.