Raw shrimp price dropping sharply in Mekong Delta

Shrimp harvesting in the Mekong Delta (Photo: SGGP)

Market reports in Kien Giang Province yesterday revealed that the prices of black tiger shrimps decreased by VND30,000 – 40,000 per kilo (US$1.28 – 1.7) to only VND250,000 – 95,000 per kilo ($4 – 10.6). The prices of white-leg shrimps also reduced by VND20,000 – 30,000 per kilo ($0.85 – 1.28) to only VND60,000 – 73,000 ($2.55 – 3.1).

The situation in other provinces of the Mekong Delta like Ca Mau, Bac Lieu, and Soc Trang is similar, facing a shrimp price decline by 40 percent compared to the beginning of the year.

President Tran Van Viet of Thanh Cong Shrimp Cooperative in Dam Doi District of Ca Mau Province stated that despite that discouraging price drop, animal feed costs are still rather high, which leads to profit loss for farmers. He stressed that if this continues, farmers will have to stop operation to cut loss.

The Vietnam Association of Seafood Exporters and Producers (VASEP) gives reason for this price reduction, saying that exports have decreased lately, and the inventory is still too large for shrimp processing businesses to buy more materials./.

By Quoc Binh, Tan Thai – Translated by Huong Vuong(SGGP)