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Aquaculture

January 29, 2018

Vietnam shrimp prices stable in December
 
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Price summary                                                        
 
Shrimp prices were relatively stable in December.
 

Price of giant tiger prawn(expressed in VND1,000/kg)

Category (pcs/kg)

Week 1

Week 2

Week 3

Week 4

20

315

310

305

315

30

245

230

235

235

40

210

210

208

205

*VND1,000 = US$0.045 as of December
Source: Vasep (Vietnam Association of Seafood Exporter & Producer) 

        

Price of whiteleg shrimp in Ca Mau (expressed in VND1,000/kg)

Category (pcs/kg)

Week 1

Week 2

Week 3

Week 4

100

140

150

145

139

80

165

166

170

168

*VND1,000 = US$0.045 as of December
Source: Vasep (Vietnam Association of Seafood Exporter & Producer) 

       
                                                                                               
Market analysis
 
Shrimp prices fluctuated only slightly in December according to the shrimp size due to the sufficient supply and the reduction of EU and US market demand. In Soc Trang and Bac Lieu province, prices of giant tiger prawn for size 20 pcs per kilogram ranged from VND240,000 (US$10.63) to VND245,000 (US$10.85), and for sizes 30 pcs and 40 pcs per kilogram were respectively VND140,000 (US$ 6.20) to VND190,000 (US$8.42). For whiteleg shrimp, prices were about VND105,000 (US$4.65) to VND182,000 (US$8.06) per kilogram depending on the shrimp size.
 
Generally, 2017 is a favourable year for shrimp farmers in term of output and prices. The demand in some main markets remained stable. Shrimp prices in the first few months and last few months of the year were significantly up due to high export demand. In December 2017, the value of shrimp exports reached US$336 million, meaning that shrimp exports recorded US$3.8 billion in 2017, up 22.2% year-on-year.
 
 
Market forecast
 
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp exports to the EU would increase in 2018 after a trade agreement between both sides get through. Based on the agreement, many types of shrimp exports to the EU would be tax-free instead of being taxed at the current 12.5-20%.
 
In last eleven months of the year, shrimp exports to the EU hit US$780 million, up 42% year-on-year. The EU is the biggest market for Vietnamese shrimp exports, accounting for 22% of market share. Holland, England and Germany are another three big markets for Vietnamese shrimp exports, experiencing strong growth of 93%, 87% and 114% respectively in 2017.
 


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