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December 27, 2016


Vietnam shrimp prices continue uptrend


An eFeedLink Exclusive

 

 

Price summary


Shrimp prices continued their uptrend in 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

274

274

274

279

30

235

235

235

240

40

185

185

185

190

 

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

Category (pcs/kg)

Week 1

Week 2

Week 3

Week 4

100

102

105

105

107

80

109

112

115

115

* VND1,000 = US$0.044 as of November
Source: Vasep (Vietnam Association of Seafood Exporter & Producer)

                 
 
Market analysis


Shrimp prices continued to climb in November due to supply shortage and the high demand from exporters. Prices of giant tiger prawn per kilogram of size 20 pcs, 30 pcs and 40 pcs rose to VND279,000 (US$12.26), VND240,000 (US$10.55) and VND190,000 (US$8.35) respectively. For whiteleg shrimp, prices per kilogram rose to VND107,000 (US$4.70) and VND115,000 (US$5.05) for size 100 pcs and 80 pcs respectively. Farmers who are profitable are optimistic of a good year ahead led by strong exports.


According to the Vietnam Association of Exporters and Producers (VASEP), by end October, shrimp export value had reached US$2.58 billion, up 5.2% compared to the same period last year. Of which, export value of giant tiger prawn fell by 4.8% while that of whiteleg shrimp increased 11.3%. Shrimp export value continued to increase thanks to the growth in demand from the three major markets: the US, EU and China. The US continued to be the largest export market for Vietnam shrimp, accounting for 23.4% of total exports.


Also according to the statistics, Vietnam is the 4th largest supplier of shrimp to the US market. While the value of shrimp imports from other large suppliers such as Indonesia, India, Thailand and Ecuador fell in the first half of 2016, the value of imports from Vietnam have increased slightly over the same period last year.


Based on a report of the Mekong Delta provinces, the farming area for giant tiger prawn in November was estimated to increase by nearly 2% over the same period last year, up 566,000 hectares. Accordingly, output is estimated to increase more than 2% to 232,000 tonnes. The farming area for whiteleg shrimp also increased by 3% to 65,948 hectares and yield increased 2% to 211,000 tonnes.

 


Market forecast


Vietnam shrimp exports were expected to hit US$3.1 billion for November, up 3.3% compared to 2015.

                    

                  
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