Shrimp will be at an attractive price early quarter III

According to the Agro Processing and Market Development Authority (Agrotrade) under the Ministry of Agriculture and Rural Development, the short supply triggered domestic prices of black tiger shrimp material in June meanwhile prices of white leg shrimps are on the decline due to abundant supply at the harvest time.  

Ice-glazed black tiger shrimp size 20, 30, 49 pcs/kg is sold at 210,000 dong/kg, 180,000 dong/kg, 140,000 dong/kg respectively, up 10,000 dong/kg.

White leg shrimps size 60 pcs/kg is priced down to 100,000 dong/kg, size 70 pcs/kg is at 90,000 dong/kg and size 100 pcs/kg is at 85,000 dong/kg, down 5,000 dong/kg.

As forecasted by companies, shrimps will be at an attractive price at the beginning of quarter III, one month earlier compared to the last two years, according to the Agrotrade. It is the result of ill-prepared stockpiles in the US, EU, and Japan. Power houses like China, India, Ecuador, Indonesia and Thailand are facing difficulties, resulting in a possible decrease by at least 20% in supply sources. Material is forecasted to be on the decline in China due to the impact of DIV1 virus, according to VASEP.

In India, the lockdown will remain until May, making farmers hesitate in stocking and the supply chain be disturbed. The COVID-19 pandemic has affected the shrimp material source in Ecuador, Indonesia and Thailand.

In Vietnam, shrimp farmers have kept stocking, leaving no concerns of material source. The country expects to increase in shrimp exports in the next few months.