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Market Reports

December 20, 2017

Vietnam shrimp prices continue overall drop in November

An eFeedLink Exclusive
 
 
Price summary
 
Overall, shrimp prices continued their fall into November.
 

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

300

290

295

305

30

225

210

210

200

40

195

195

190

185

 

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

Category (pcs/kg)

Week 1

Week 2

Week 3

Week 4

100

135

134

132

132

80

165

166

164

165

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

 

Market analysis

In November, while prices for giant tiger prawn and whiteleg shrimp generally fell, they are still at a relatively high level compared to the same period in recent years.

The bigger change came from giant tiger prawn, as supplies are sufficient and producers have enough stock for the year. For size 30 pcs per kilogram, prices were VND200,000 (US$8.82), and for size 40 pcs per kilogram, prices were VND 185,000 (US$8.16), a reduction in the range of VND15,000 (US$0.66) to VND25,000 (US$1.10) compared to November last year.

After increasing 25% in October to reach US$421 million, the export value of shrimp in November was down to US$340 million, still 17% higher compared to the same period last year. 

As of November, the value of shrimp exports is estimated to reach US$3.5 billion, up 22% compared to the same period last year. Of which the value of whiteleg shrimp is expected to hit US$2.3 billion, up 28%, while that of giant tiger prawn is expected to fall to US$802 million, down 5.5%.
 

Product

Nov-17

Variance (%)

Jan- Nov 2017

Variance (%)

Export destination

Nov-17

Variance (%)

Jan-Nov 2017

Variance (%)

Shrimp, overall

340.316

16.8

3,494

21.6

EU

145.068

27.8

1,360.97

21.6

White leg shrimp

236.366

25.8

2,288.80

27.9

US

116.294

-1.3

1,303.58

-2.4

Giant tiger prawn

67.378

-12.7

801.79

-5.5

Japan

103.216

-6.4

1,175.51

20.1

 

Market forecast

For 2017, disease outbreaks are under control and shrimp prices are at a generally high level. This is encouraging farmers to increase their investments on-farm.

Shrimp production and exports are expected to remain favourable in the last two months of 2017.
 


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