Shrimp prices rebound after a deep slump in Ca Mau
After a period of sharp decline, the prices of raw shrimp in Ca Mau have risen again but remain at a low level. The declining shrimp prices have a direct impact on shrimp farmers, while many seafood export businesses face various difficulties.
Currently, size 30 shrimp are being purchased at 135,000 VND/kg; size 20 shrimp at 145,000 VND/kg, an increase of up to 20,000 VND/kg depending on the type. Size 20 prawns cost 170,000 VND/kg, size 30 prawns are priced at 140,000 VND/kg, and size 40 prawns are 120,000 VND/kg.
The reason for the recent drop in shrimp prices, according to many seafood export companies, is the economic crisis, as consumers have tightened their spending, resulting in fewer new orders and an accumulation of inventory. Many businesses have been operating cautiously or downsizing while waiting for new export orders.
New signals from the market bring joy to shrimp farmers and seafood export businesses. However, according to experts, the shrimp industry still faces many challenges, as the production costs are high, the success rate of shrimp farming is low, and the prices of shrimp raw materials are high due to the rising cost of seafood feed. This makes it difficult to compete with shrimp-exporting countries like Ecuador and India.
According to the Vietnam Association of Seafood Exporters and Producers, shrimp exports in the first 9 months of the year reached 2.52 billion USD. The situation could improve in the last few months of the year.
To proactively respond to market developments, the Chairman of the People's Committee of Ca Mau province has issued a directive to the Department of Agriculture and Rural Development to focus on building cooperative and linkage models in the production and consumption of super-intensive and semi-intensive shrimp farming. This approach aims to promote sustainable production and provide opportunities for people to access credit through partnerships.
The Chairman of the Provincial People's Committee recommends that the Government and relevant ministries and agencies take measures to manage and stabilize input material prices for shrimp farming. They should also effectively control the prices of shrimp raw materials to prevent situations where shrimp prices drop and affect the livelihoods of the people.
Establishing support mechanisms, policies, and creating domestic raw material production areas will reduce dependence on imported raw materials for shrimp feed production.