February 6, 2006
Shrimp prices rising in Vietnam due to shortage
Shrimp processing factories in Vietnam's Mekong Delta region have come to a standstill following an acute shortage of tom su, a mid-sized prawn, as prices soared, Sai Gon Giai Phong, a local newspaper reported.
Prices are now up 30 percent from normal prices and supplies to processing plants have nearly dried up. The shortage is likely to last until May, the newspaper quoted Ho Quoc Luc, chairman of the Vietnam Association of Seafood Exporters and Producers, as saying.
Luc called for expanding shrimp ponds to provide adequate supplies to processors. He also urged scientists to provide solutions on expanding production and government agencies to expedite the process.
Not only is Vietnamese shrimp popular at home, it is also very much in demand as far away as markets in Europe.
Shrimps from Vietnam are increasingly popular in Switzerland, thanks to its special taste, according to Coop Volketswill Company, which imports Vietnamese shrimp.
Gerhard Zurluter, director of Coop Volketswil's business transactions, said his company plans to invest more in organic shrimp farms in Vietnam's southern Ca Mau province and hoped that Vietnamese shrimp exports to Switzerland would increase to US$3.14 million. In 2004, the country imported about US$2 million worth of Vietnamese shrimps.