For about half a month now, the price of all kinds of shrimp has suddenly increased sharply. Specifically, white-leg shrimp of 30 pieces/kg reached a record high of 200,000 VND/kg, but many processing and export enterprises still cannot buy the goods.

Many shrimp farmers in My Xuyen district (Soc Trang) said: For about half a month now, shrimp prices have suddenly increased sharply, 40,000 - 50,000 VND/kg higher than the same period last year and about 20,000 VND/kg higher than a month ago. Specifically, white-leg shrimp of 100 pieces/kg cost from 105,000 - 107,000 VND/kg, and 70 pieces/kg at 130,000 VND/kg. "Shrimp prices have increased sharply because recently many people have stopped farming because of the epidemic for more than a year and the very low shrimp prices have caused prolonged losses," said Mr. Duong Van Sen, residing in Hoa Tu 1 commune (My Xuyen).

In Vinh Trach Dong commune (Bac Lieu city), Mr. Le Dinh Khanh, a high-tech shrimp farmer, excitedly announced: A month ago, white-leg shrimp of 30 pieces/kg cost 120,000 - 130,000 VND/kg, but now it has increased to 200,000 VND/kg. The price trend continues to increase due to limited supply and a sharp decrease in the number of farming households.

Confirming that shrimp prices are increasing sharply, Mr. Tran Anh Khoa, General Director of Anh Khoa Company Limited, a famous shrimp processing and exporting enterprise in Ca Mau province, explained that the reason is that recently, markets, especially China, are increasing their purchases to serve the year-end season. Meanwhile, many farmers have quit their jobs and stopped farming, causing a shortage of supply, causing prices to increase. It is worth mentioning that although prices have increased significantly compared to the same period last year, businesses still do not have goods to buy.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in October, Vietnam's shrimp exports reached 394 million USD, up 24%. The cumulative 10 months reached 3.2 billion USD, up 13% over the same period last year. Notably, Vietnam's shrimp exports to China in October reached 91 million USD, up 44%. In the past 10 months, exports to this market reached 676 million USD, up 31% over the same period in 2023.

China's strongest increase in purchases was lobster, reaching 298 million USD, up 157%. In addition, Vietnam's shrimp exports to the US in October also reached more than 80 million USD, up 17%. The cumulative 10 months reached 646 million USD, up 10% over the same period.

Source: Thanh Nien Newspaper