December 22, 2010

Vietnamese shrimp prices surge in Southern provinces

Prices of Vietnamese spawn shrimp increased sharply in the southern province of Ca Mau, rising 20% from the beginning of 2010, the provincial Department of Agriculture and Development said.

Spawn shrimp are currently offered at VND66,000-VND220,000 (US$3.38-US$11.28) per kilogramme.

As prices of shrimp imported from India and Thailand are VND16,000-VND20,000 (US$0.82-US$1.03) per kilogramme lower than domestic prices, local shrimp processors and exporters plan to import more raw shrimp to ensure sufficient materials for production.

The Vietnam Association of Seafood Exporters and Producers said Vietnam has been exporting shrimp to 150 countries and territories in the past ten years. The number of exporters has risen to 334 but the shrimp cultivation area and yield did not increase.

In 2010, shrimp retains its top position since shipment of shrimp products accounted for 40.7% of the country's total seafood export revenues, the association said.

Local firms are expected to export 200,000 tonnes of shrimp, valued at US$1.8 billion, to 90 countries and territories worldwide this year. In the first 11 months, shrimp exports brought in US$1.68 billion.

Japan is now the biggest market for Vietnam's shrimp with 52,015 tonnes worth US$477 million, followed by the US. The EU is ranked third with 37,900 tonnes worth US$275.6 million.