Shrimp Prices in Vietnam Surge at the End of 2024
China’s Increased Demand Drives Shrimp Price Surge
Shrimp prices in the Mekong Delta provinces are surging due to limited supply.
In Vinh Trach Dong Commune (Bac Lieu City), Mr. Le Dinh Khanh, a high-tech shrimp farmer, excitedly shared that whiteleg shrimp sized at 30 shrimp/kg, priced at 120,000–130,000 VND/kg a month ago, has now reached 200,000 VND/kg. The upward trend is expected to continue due to limited supply as many farmers have ceased operations.
Confirming the price hike, Mr. Tran Anh Khoa, General Director of Anh Khoa Co., Ltd., a prominent shrimp processing and exporting company in Ca Mau Province, explained that markets, especially China, have resumed buying in preparation for the year-end season. Meanwhile, the reduced number of active farmers has led to supply shortages, pushing prices higher. Despite the substantial increase compared to last year, companies are struggling to secure sufficient shrimp for purchase.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's shrimp exports reached $394 million in October, marking a 24% increase. Cumulative exports for the first ten months totaled $3.2 billion, a 13% rise compared to the same period last year. Notably, shrimp exports to China in October reached $91 million, up 44%, with cumulative exports to this market over ten months reaching $676 million, a 31% increase. Lobster exports to China saw the most significant surge, reaching $298 million, up 157%. Similarly, shrimp exports to the U.S. in October surpassed $80 million, up 17%, bringing the ten-month total to $646 million, a 10% increase compared to last year.
Despite challenges, the shrimp industry is on track to achieve its $4 billion target for 2024, thanks to its current growth momentum.
Cre: thanhnien.vn
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Ngày đăng : 09/12/2024
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