Shrimp prices may continue to increase until the middle of the second quarter
The Agro-Processing and Market Development Authority (Ministry of Agriculture and Rural Development) forecasts that shrimp prices are likely to be high until the middle of the second quarter, but in the long run it will be difficult to predict, because it depends on market supply - demand and development of COVID-19 pandemic.
According to the Agro-Processing and Market Development Authority, the shrimp material market in the Mekong Delta in the month tended to decrease in a number of sizes due to increased supply, factories adjusting to reduce purchasing prices.
In Bac Lieu, the price of frozen black tiger shrimp sized 20 pieces/kg remained stable at VND 260,000/kg, shrimp sized 30 pieces/kg decreased by VND 40,000/kg compared to the end of February to VND 190,000/kg, sized 40 pieces/kg reduced by VND 10,000/kg to VND 130,000/kg.
The price of frozen white shrimp sized 60 pieces/kg was stable at VND 115,000/kg, sized 70 pieces/kg at VND 110,000/kg, sized 100 pieces/kg increased by VND 10,000/kg to VND 90,000/kg.
Currently, the new brackish water shrimp farming season has begun to be vibrant because weather factors, salinity, etc. have basically met the requirements.
The Agro-Processing and Market Development Authority forecasts that shrimp prices are likely to be high until the middle of the second quarter, but in the long run it will be difficult to predict, because it depends on market supply - demand and development of COVID-19 pandemic.
According to the Import and Export Department, in February, shrimp is the largest seafood export item in terms of turnover and the second largest item in terms of volume, reaching 17.1 thousand tons, worth USD 155.99 million, a decrease of 18.3% in volume and a decrease of 19.3% in value compared to February 2020.
Accumulated over the first two months of 2021, shrimp exports of all kinds reached 42.4 thousand tons, worth USD 376 million, increased by 0.1% in volume, but decreased by 1.2% in value over the same period in 2020.
- Vietnam's timber exports are expected to hit a new record
- Shrimp prices may continue to increase until the middle of the second quarter
- Coffee export turnover continues to increase thanks to the recovery of demand
- Pepper prices may continue to decline due to the negative impact of COVID-19
- Pangasius exports rebounded in March
- Market share of Vietnamese pepper in total imports of Japan increased sharply
- Vietnam's rice export price has surpassed Thailand's
- Vietnam's seafood exports achieved strong growth in many countries
- Vibrant growth for rice exports in March
- Pepper exports in March increased by more than 120%