VIET NAM SHRIMP INDUSTRY UPDATE IN WEEK 44

VIET NAM SHRIMP INDUSTRY UPDATE IN WEEK 44

1/COVID SITUATION IN MEKONG DELTA IS STILL COMPLICATED

In the past two weeks, many seafood businesses in Mekong Delta provinces and cities of Ca Mau, Bac Lieu, Soc Trang and Can Tho have detected Covid-19 infections. Many provinces have leveled up Covid-19 epidemic from yellow (low risk) to orange (his risk), like some provinces don’t allowed to sell foods in place (just take away), applied curfew at night and strictly controlled in & out for high-risk areas. Vaccination in Mekong Delta is continuously speeding up for people with 2 jabs.

To adapt to the Covid-19 epidemic, businesses invest in more RT-PCR testing machines and increase the frequency of rapid testing 3 days per time to prevent risks and affect the production chain. This test costs a lot more, but helps businesses soon remove F0 from the production line.

Due to finding F0 cases in seafood factories, then the number of workers of factories reduced a lot and seriously affected to operation of factories at this busy time of end year. At moment, many factories shared: they are having many pending orders need to complete quickly to load as fast as possible for buyers in US, EU, Japan…for end-year holidays. Factories also need to speed up to achieve targets of the year, so even Covid-19 situation in Mekong Delta is being complicated but factories are willingly hiring workers more so they don’t mind to invest PCR machines and other additional test kits to screen workers’ health.

2/SHRIMP PRICES ARE STANDING STILL AT HIGH LEVELS

Prices of both Black Tiger & Vannamei shrimp in this week 44 are flat through the week 44.

Shrimp Price Table by SEABINA GROUP

According to Mr. Luu Truong Giang - representative of Tan Phat Seafood Co., Ltd (Tran De, Soc Trang) - said that the price of white-leg shrimp is standing still and showing signs of a slight decrease because of the impact of the Covid-19 epidemic in provinces in Mekong Delta region.

Farm-Gate Prices of Vannamei Trended Flatly in Week 44 - SEABINA GROUP

SEABINA GROUP predicts, the prices in next week 45 are still flat and the prices in week 46 could progress with two scenarios:

1st: If Covid in Mekong Delta does not spread more then the prices will increase again, the trend might continue in week 47 or even last until the end of Nov and early Dec

2nd: If Covid spreads widely, some provinces like Bac Lieu, Soc Trang, Kien Giang, Can Tho, An Giang, Ca Mau can’t contain Covid and hospitals’ system is overloaded, seafood factories in these provinces find many F0 cases then they must close down, so the shrimp prices would drastically reduce

We believe in 1st scenario more, let’s wait and see! 

Written by SEABINA GROUP

Email: giau@seabinagroup.com

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