May 17, 2012

Mekong Delta's shrimp prices down despite declining supply

State media reported Wednesday (May 16) that Mekong Delta region's shrimp prices have fallen despite decreasing supply caused by diseases.

Prices of prawn shrimp decreased by between VND25,000-70,000 (US$1.20-3.36) per kilogramme from the same period last year to VND125,000-200,000 (US$6-9.6) per kilogramme, the Viet Nam newspaper said.

The wide spread of disease and falling prices of shrimp have caused the aquatic farmers and farming in the Mekong Delta region fall in losses. Many farmers have refused to breed shrimp to avoid losses, the newspaper said.

Kien Giang province targets to cultivate 2,000 hectares of shrimp this year, but so far, local farmers have grown only 900 hectares.

Shrimp is one of major export products for Vietnam. The country targets to earn US$2.5 billion from shrimp export in 2012 versus US$2.39 billion in 2011.