VIET NAM SHRIMP INDUSTRY UPDATE IN WEEK 47

VIET NAM SHRIMP INDUSTRY UPDATE IN WEEK 47

1/General situation & operation of factories

Covid situation in Mekong Delta is trending worse than last week when daily infected cases continue to rise up in almost provinces. Worryingly, the number of infected cases still increases in Ca Mau, Bac Lieu, Soc Trang, Can Tho where mostly shrimp is farmed and processed.

Table: Covid cases and vaccination situation in Mekong Delta by Zingnews.com

Although Covid situation is still very complicated but shrimp industry is gradually recovering under new normality, factories are actively collecting raw materials, process and load cargoes to all markets for end-year holidays.

Prices of raw material shrimp continues to rise up amidst the source of supply becomes shortage for both Vannamei and Black tiger shrimp. Visibly, the current prices of raw material shrimp are almost equal or higher compared with the prices before 4^th Covid wave erupted in last May. With the current prices of shrimp farmers can make profitable even though the prices of feed and aquatic drugs are still high, so farmers are positively upgrading farms to stock new crop.

After easing the lockdowns from mid-September, businesses are gradually recovering production but still facing many difficulties. The most necessary thing at this time is that employees are fully vaccinated with vaccines, along with supportive policies from the government, so that businesses can restore maximum operating capacity and take advantage of opportunities from import markets. It is expected that Vietnam's shrimp exports for the whole year of 2021 will reach more than 3.8 billion USD, up 2.7% compared to 2020.

Regarding export products, as of October this year, Vietnam's vannamei shrimp export value (accounting for 77% of total shrimp exports) increased by 9% while the export value of black tiger shrimp (accounting for 16%) increased 1.8%, marine shrimp export value decreased by 39% over the same period last year.

In terms of output, in October 2021, whiteleg shrimp production was estimated at 85.3 thousand tons, up 0.4% over the same period last year; Black tiger shrimp was estimated at 33.6 thousand tons, down 0.9%.

2/Shrimp prices

* Black tiger: the prices are still flat in this week 47

* Vannamei: after two consecutive flat weeks, the prices of Vannamei continued to increase again in week 47 for all sizes

Shrimp prices by SEABINA GROUP

Written by SEABINA GROUP - a professional & knowledgeable sourcing agent of shrimp in Viet Nam, please contact us if you are looking for a reliable partner for mutual cooperation 

Richard Nguyen 

Email: giau@seabinagroup.com

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