December 26, 2023

Vietnam's giant freshwater prawns suffer significant price cut as spending drops

Low spending, combined with massive harvests and foreign competition, have slashed Vietnam's giant freshwater prawn prices by 25-50% on some markets.

Southern farmers in the Mekong Delta are direct-selling the prawns for ₫90,000-100,000 (US$3.59-3.99) per kilogramme, 25% cheaper than the same period last year.

In traditional markets and online platforms, giant freshwater prawns are listed at ₫105,000-210,000 (US$4.31-8.61) per kilogramme (depending on size), down 20-50% from the previous harvest.

According to Hanh, a shrimp merchant at Pham Van Hai Market in Ho Chi Minh City, top quality giant freshwater prawns sized 6-10 pieces per kilogramme cost ₫425,000 (US$17.43) a kilo at the beginning of the year. Now, they sell for only ₫210,000 (US$8.61) a kilogramme.

Smaller prawns, size 12-15 pieces per kilogramme, are listed at ₫150,000 (US$6.15) per kilo, also down 50% year-on-year. Low consumption and oversupply have been blamed for the price drop.

- VnExpress