Prices of shrimp increase, tuna continue to fall

Shrimp prices are in the upward trend, meanwhile domestic tuna prices continue to fall due to exports in a slump.

That was discussed in the Preliminary Meeting of the first six months of 2020 and implementation of plan of the second half of the year by the Directorate of Fisheries (DoF) on July 14. The coronavirus pandemic has seriously affected the production and development of the fisheries industry, especially seafood exports, according to DoF.

As the exporting market was put on hold, seafood exports volume of the first six months of 2020 is estimated to reach $3.56 billion, accounting for 35.6% of the year’s plan. However, production results are showing good signs after the coronavirus pandemic the favorable weather condition and growing demand in post larvae have boosted the production since late April.

Stocking area is estimated to reach 612,000 ha (equal to 98.9% of the same period last year). The output of commercial shrimp is estimated to reach 319,000 tons, up 4.5% from last year.

In June, prices of white leg shrimp size 100pcs/kg ranged at 95,000-100,000 dong, up 15,000 – 20,000 dong/kg compared to the previous three months. Black tiger shrimps size 30 pcs/kg were sold at 200,000 – 230,000 dong, up 30,000 – 40,000 dong/kg.

The output of wild caught species increased due to the decrease in fuel prices compared to late 2019; therefore, farmers were eager to go further out to sea for fishing regardless of reduced prices.

The output of wild caught species is estimated to reach 1.88 million tons, up 1.4% from last year, with 1.8 million tons from the ocean and 79,000 tons from domestic marine. Despite being hit by COVID-19 pandemic, no vessel was found docking in prefectures.

The country saw a decline in the tuna market in June, according to DoF. Prices of tuna in Phú Yên, Khánh Hoà, Đà Nẵng fell 5,000 – 15,000 dong/kg from last month.

DoF’s General Director Trần Đình Luân said that the coronavirus pandemic hit the country’s seafood exports. To tackle the situation of sluggish consumption and unsold stocks driven by decrease in prices of wild-caught species, DoT advised processing facilities to ramp up making canned products, fish sauce, dried food, and fish balls.

DoF also warned fishermen to shorten their overseas trips, work with service providers or apply technology of preserving species after exploitation, promptly transport marine species to the shore for quality assurance, and provide fresh marine species to the domestic market.

“As for low productivity vessels, DoF requested local authorities to refrain non-essential overseas trips. When the COVID-19 pandemic is contained and consumption and exports are recovered, fishermen can go back on track. The refrained vessels can register with local authorities to enjoy supporting policy of the Government”, said Luân.