June 1, 2012

Vietnam's central province's lobster prices down despite thin supply

Despite thin supply caused by disease, Vietnam's central province of Khanh Hoa's lobster prices have decreased by VND50,000-100,000 (US$2.40-4.80) per kilogramme in last month to between VND930,000 (US$44.67) and VND1.1 million (US$52.83).

Low price and falling yield have made local farmers fall in financial difficulties, the Viet Nam newspaper reported Thursday (May 31).

Many shrimp farmers suffered huge losses as their production costs nearly reach VND1.4 million (US$67.24) per kilogramme.

Local farmers, discouraged by low price of shrimps and occurrence of diseases, have scaled down their production.

Khanh Hoa province has 20,000 floating cages for tiger shrimps with production output of over 1,000 tonnes annually.