May 26, 2017

Vietnam shrimp prices plunge in April

An eFeedLink Exclusive
 

Price summary

Shrimp prices plunged across the board in April due to excess supply.
 

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

280

275

268

265

30

320

310

290

280

40

270

260

250

250

 

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

Category (pcs/kg)

Week 1

Week 2

Week 3

Week 4

100

148

135

130

128

80

160

150

148

145

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

 

Market analysis

For giant tiger prawn, prices fell by the range of VND20,000 (US$0.88) to VND40,000 (US$1.75) per kilogram compared to the first week of April. For whiteleg shrimp, the decline was in the range of VND15,000 (US$0.66) to VND20,000 (US$0.88) per kilogram (depending on size). The decline could be explained by the supply of shrimp exceeding its demand. Thus, traders slashed prices to increase profits.

In April, the value of shrimp exports was estimated at US$248 million, contributing to a 1% year-on-year increase for the first four months of the year to US$867.3 million.
 

Market forecast

Although the shrimp industry is facing many challenges, the Vietnam Association of Seafood Exports and Producers forecasts the value of shrimp exports to reach US$3.4 billion, an increase of 9% year-on-year. Of which, the value of whiteleg shrimp would reach US$2 billion, up 8% and the value of giant tiger prawn would reach US$900 million, up 2%.
 


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