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
Contact AQUA MINA for consultation and supply of aquaculture round tanks and aquaculture equipment for high-tech shrimp farming.
- Address: 685 National Highway 1A, Binh Hung Hoa Ward, Binh Tan District, Ho Chi Minh City
- Phone: 1800 6071 (Toll-free hotline)
- Email: sales@aquamina.com.vn or oversea@aquamina.com.vn
Aqua Mina's distributor in Japan:
REX INDUSTRIES CO., LTD
- Address: 1-9-3 Hishiya-Higashi, Higashi-Osaka 578-0948 JAPAN
- Email: kimakubo@rexind.co.jp
- Phone: +81-(0)72-961-9893
- Website: http://www.rexind.co.jp/e/
WE WORK FOR YOUR SUCCESS!
Ngày đăng : 09/12/2024
2312 View
Other Articles
Minerals: An Essential Foundation for the Comprehensive Development of Shrimp
Seafood Exports to the EU: Updates on New Regulations and Support Tools from AGRINFO
Sharing: The Land of Giant Freshwater Prawns in Transformation
Removing obstacles for the high-tech shrimp farming project
Sharing: Fresh Shrimp Prices Rise, Farmers Rejoice in Ho Chi Minh City
Tilapia prices in Brazil continued to decline in July due to weak demand
Sharing: The Fisheries Sector Focuses on Emergency Response to Typhoon No. 5
Domestic market – The long-term stronghold of Vietnamese pangasius
Opening of Vietfish 2025 – the gathering place of the aquaculture industry’s finest
.jpg)