Shrimp prices still low in mid-August

Some factories related to shrimp processing for exports informed on August 16, 2023 that prices of shrimp materials stayed as low as the previous week, some areas reported a decrease. However, prices of some shrimp sizes rose.

Prices of shrimp material were recorded in some farms in Cà Mau, Bạc Liêu, Kiên Giang, Sóc Trăng, and Trà Vinh. The 20 count black tiger shrimp was at 180,000 – 190,000 dong/kg, down from last week of 190,000 – 205,000 dong/kg. The 100 count white leg shrimp ranged between 77,000 and 81,000 dong/kg, down from last week of 81,000 – 85,000 dong/kg.

Prices of white leg shrimp in some ponds in Bạc Liêu inched up. The 30 count shrimps were sold at 147,000 dong/kg, the 40 count shrimp were at 118,000 dong/kg, and the 50 count shrimp at 106,000 dong/kg, up 3,000 – 7,000 dong/kg from last week.

Nevertheless, the shrimp prices were in a slump. In Bạc Liêu, which is making an effort to become a shrimp industrial center of the country, many farmers are rearing shrimps perfunctorily or even abandoning their ponds. The sombreness in shrimp farms has become overwhelming when increasingly higher prices were recorded in rice fields.

Once thrive with 30 participants, some members of the Thành Công Mới shrimp industrial farming group in Vĩnh Mới hamlet of Vĩnh Thịnh commune, Hòa Bình district, Bạc Liêu province are slipping into debt and have to look for other jobs.

Prices of some shrimp sizes rose in a few places, the cases are not able to transform the shrimp material sector into a brighter period. According to some experts, importing companies witnessed a sharp decline in inventory and traditional festivals in the coming months will help boost the consumption, resulting in an increase in exports and shrimp prices.

VASEP’s General Secretary Trương Đình Hòe said: “It will be difficult for the shrimp sector to achieve what is expected, USD 3,5 – 4 billion may be the highest result. However, it somehow brings a hope of improving the shrimp price in the last months of the year, so that shrimp farmers can solve some difficulties and have little faith in a new crop”.

Liêu Lưu Hoàng, Director of Bạc Liêu provincial Department of Agriculture and Rural Development said: “Not only are prices challenges but also they are opportunities for the shrimp sector to reorganize the production and establish a closer relationship between farmers and processing companies so as to create competitive products in the world market.”

“In the short-term, we suggest farmers stock shrimp at a low density or in accordance with orders by factories. Shrimp farmers need to take part in cooperatives and working groups to support each other to improve and stand in the market regardless of fluctuating factors”.


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