April 28, 2006

Vietnam shrimp prices rising due to limited stocks
 

Shrimp prices are rising, despite the falling prices of other categories of seafood, according to Vietnam's Trade Research Institute.

Vietnam shrimp prices to the US and Japan have edged up 2-3 percent over March while prices of prawn for the domestic market had risen 10 percent.

According to the institute, the change is due to a sustained shortage of materials resulting from shrimps dying en-masse in the Cuu Long (Mekong) River Delta. The shortage has caused seafood processors to lower capacity and forced them to turn away new orders.

Officials said the mass-dying was caused by pollution, changing ecological conditions and poor breeding practices which led to widespread diseases in shrimps.

Shrimp output is also expected to be lower this year in Thailand.

The current oil price hike could lead to a lower shrimp output for this year, said President of the Thai Shrimps Association, Somsak Paneetathayasai. He added that rising fuel costs have forced many fishermen to halt operations.

As a result, the quantity of giant freshwater prawns has fallen by around 30 to 40 percent this year.