Short supply resulted in a hike in sea crab price
After a long time of slump and consumption difficulties without traders, prices of sea crab in Bạc Liêu start to rise in the face of short supply.
Prices of commercial crabs increase more than 100,000 dong/kg on average, up to 250,000 – 450,000 dong/kg, depending on types.
Local traders said that even though prices hiked those days, these species were still in short supply. This is attributed to low output and farmed crabs themselves that don’t weigh up well under the influence of environment, water resource, weather and brookstocks.
Moreover, it’s not the season of crabs full of fat, meanwhile the market demand is increasing many times as much as the time when covid-19 occured, especially after the social distancing loosening allows restaurants and tourism destinations open to visitors.
According to trading facilities, the prices of sea crab may continue to rise until early July (lunar calendar), season of sea crab and harvest season of crab full of fat, and will return to normalcy when the yield is abundant.
Local farmers are so excited with the price hike these days and want to boost investment into growing farms. As a result of this hike, prices of baby crab are increasing and facilities are boosting production to supply farmers.
Recognizing economic benefits from sea crab farming as this species brings high economic value and low risks, Bạc Liêu provincial authority has encouraged farmers to expand sea crab farming area recently. Many farming practices have brought large profits and help farmers raise their income.
Bạc Liêu has 130,000 ha of aquaculture land, mainly shrimp cultivation in combination with crab farming. The area specializing in crab, fish and some high economic value species are expanded to 4,300 ha.