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Market Reports

November 30, 2018

Vietnam shrimp exports fall sharply for several regions
 
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Price summary
                                                                                
While shrimp prices generally held steady in October, shrimp exports fell sharply for several regions.
 

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

Category (pcs/kg)

Week 1

Week 2

Week 3

Week 4

20

155

155

156

156

30

165

165

165

165

40

200

205

200

200

*VND1,000 = US$0.043 as of October
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

99

98

99

99

80

105

103

103

103

*VND1,000 = US$0.043 as of October
Source: Vasep (Vietnam Association of Seafood Exporter & Producer) 

      
                                                                                              
Market analysis
 
In October, prices of giant tiger prawn for sizes 20, 30 and 40 pcs/kg ranged from VND155,000 (US$6.71) to VND205,000 (US$8.87). Meanwhile, prices of whiteleg shrimp for sizes 80 and 100 pcs/kg ranged from VND99,000 (US$4.29) to VND103,000 (US$4.46).
 
From April to October 2018, shrimp exports showed no signs of recovery compared to the same period last year. In October, shrimp exports decreased 17.3% compared to the same period of 2017, recording US$348 million. In the first ten months of 2018, shrimp exports reached US$2.97 billion, down 5.8% compared to the same period of 2017 due to the price decrease and the low market demand. Whiteleg shrimp remained the main segment for shrimp exports, accounting for 68.7% of total exports. In the first ten months of 2018, the value of whiteleg shrimp exports decreased 1% while that of giant tiger prawn was down 7% compared to the same period last year.
 
In October, the volumes of shrimp exports to other markets were down significantly: European Union (-30.6%); China (-38%); Korea (-18.4%); Japan (-5%). Exports to the United States increased slightly by 0.8%. Remarkably, shrimp exports to ASEAN markets rose 55% compared to the same period last year.
 
 
Market forecast
 
Shrimp exports in the 4th quarter are expected to be up 2% compared to the same period last year, hitting US$1.14 billion. Hence, shrimp exports for the whole of 2018 would be expected to reach US$3.8 billion, down 2% compared to 2017.
 


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