June 15, 2010

Shrimp prices soar in Mekong Delta

Mekong Delta shrimp prices have skyrocketed to the highest levels in nine years, breeders and processing companies in the Delta has said.

In Ca Mau, Bac Lieu, and Soc Trang provinces on June 13, a kilogramme of shrimp (numbering 20) fetched VND180,000-200,000 while a kilo containing 30 shrimps sold at VND130,000-150,000.

For smaller shrimp (40 per kilogramme), farmers received VND110,000-120,000.

According to Bac Lieu Province Department of Agriculture and Rural Development, shrimp breeders have enjoyed great profits, leaving only a few households with leftover shrimp for sale. Hosts of factories have faced severe shortages of materials to process for exports.

While shrimp prices have surged, tra fish prices continued plummeting, down to about VND15,000-16,000 a kilogramme.

Nguyen Van Dao, director of Go Dang Seafood Company, said that with such low prices, tra fish breeders in the delta are suffering losses of VND500-1,000 for each kilogramme of fish sold.

Dao expressed concern that the tra fish prices would continue sliding as European economic difficulties have made Vietnam seafood exports to this market difficult.

Meanwhile, Vietnam's tra and basa fish are becoming increasingly popular in Mexico, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).

The country's turnover from tra and basa exports to Mexico continues to rise, earning US$9.9 million in 2004, US$17.55 million in 2005, US$32.95 million in 2006 and over US$55.64 million in 2008, the association said.