November 29, 2012

Shrimp processors of Vietnam's southernmost province of Ca Mau are experiencing serious shortage of raw shrimp.

Due to the lack of unprocessed materials, shrimp plants in Ca Mau are working at 40-50% of their designed capacity despite the imports of raw materials soaring by 40% from the same period last year, the Vietnam News Agency (VNA) said.

Currently the province has 34 shrimp processors with a total capacity of 190,000 tonnes. Although the province has applied numerous measures to encourage local farmers to boost shrimp cultivation, the total shrimp output has reached only 106,000 tonnes.

Raw shrimp shortage has created a fierce competition among local shrimp processors in buying unprocessed shrimp, the VNA said.

Meanwhile, the Vietnam Association of Seafood Exporters and Producers (VASEP) said that the country's export revenues of shrimp may reach US$2.2 billion in 2012, far below the target of US$2.4 billion set for the year.

Shrimp is one of Vietnam's main export staples. In 2011, the country earned US$2.39 billion from export of the commodity.