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Market Reports

August 29, 2018

Vietnam giant tiger prawn prices rise in July
 
An eFeedLink Exclusive
              
                                                                  
Price summary
                                                                                
While prices of giant tiger prawn rose in July, those of whiteleg shrimp were generally stable.
 

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

Category (pcs/kg)

Week 1

Week 2

Week 3

Week 4

20

235

235

230

235

30

210

240

230

240

40

200

205

210

210

*VND1,000 = US$0.045 as of Jul
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

83

85

85

83

80

103

103

103

103

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

         
                                                                                            
Market analysis
 
Prices of giant tiger prawn were on any uptrend while those of whiteleg shrimp remained stable after a slight increase in June. The price of giant tiger prawn for size 30-40 pcs per kilogram ranged from VND200,000 (US$8.62) to VND240,000 (US$10.35), up VND20,000 (US$0.86) compared to June. Meanwhile the price of whiteleg shrimp for size 80-100 pcs per kilogram remained at VND83,000 (US$3.58) to VND103,000 (US$4.44).
 
Overall shrimp exports in the second quarter of 2018 reached US$893 million. This meant that the value of shrimp exports in the first six months of the year hit US$1.6 billion, up 5.1% compared to the same period last year. Whiteleg shrimp accounted for 67.2% and giant tiger prawn 23.7%. The European Union remained the biggest market for Vietnam shrimp exports in the first six months of the year at a value of US$405.6 million, up 38% compared to 2017. Shrimp exports to United States were down 7.5% compared to last year to reach US$255.7 million.
 
 
Market forecast
 
It is forecast that shrimp prices would increase more in the rest of the year led by strong demand. Meanwhile, shrimp exports are expected to reach US$4 billion for 2018.
 


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