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October 26, 2016
 
Vietnam shrimp prices on downtrend despite weak supply    
 
An eFeedLink Exclusive
 
                                                                          
Price summary                                                                 

Shrimp prices were down in September.
 

Prices of giant tiger prawn in Ca Mau  (Expressed in VND1,000/kg)

Category (pcs/kg)

Week 1

Week 2

Week 3

Week 4

20

270

270

275

250

30

205

205

210

184

40

130

130

130

112

 

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

Category (pcs/kg)

Week 1

Week 2

Week 3

Week 4

100

88

87

86

86

80

112

110

110

109

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

 
 
Market analysis
 
In September, the price of raw shrimp in Ca Mau generally fell sharply compared to the previous month due to a number of businesses limiting their purchases. Specifically, in the last week of September, the sharp fall came despite weak supply caused by the recent United States Department of Commerce (DOC) announcement of the final results of the administrative review stage of anti-dumping duties on frozen shrimp product exports, with tax rates five times higher than the previous review.
 
For giant tiger prawn, the price for size 20 pcs per kilogram reduced by VND25,000 (US$1.12) to VND250,000 (US$11.20); size 30 pcs per kilogram reduced by VND26,000 (US$1.16) to VND184,000 (US$8.24); size 40 per kilogram reduced by VND18,000 (US$0.80) to VND112,000 (US$5.01).
 
For whiteleg shrimp, prices for 80 pcs and 100 pcs per kilogram stayed at VND109,000 (US$4.88) and VND86,000 (US$3.85) respectively.
 
 
Market forecast
 
According to VASEP, with a turnover of US$274 million as of July 2016, the volume of shrimp exports peaked in the first seven months of this year, an increase of 4% compared to July 2015. Accumulated for the year ending July 2016, shrimp exports reached US$1.6 billion, up 4.6% compared to the same period last year. Shrimp exports for the first seven months of this year trended upwards thanks to the growing demand from major markets, while global shrimp prices tended to rise as supply decreased. Although production is still facing unfavourable weather, shrimp exports in the coming months are expected to continue to rise.
 


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