Raw shrimp prices plummet.

Shrimp farmers in Tien Giang and Ca Mau provinces are worried about losses as shrimp prices have dropped by as much as 30% in a single month.

Surveys show that shrimp prices are continuously plummeting. Shrimp weighing 100 pieces per kilogram are currently being bought by traders for 70,000-80,000 VND, a 30% decrease compared to last month. Shrimp weighing 30-40 pieces per kilogram have also seen a 20% price drop, now only 108,000-35,000 VND. Meanwhile, investment costs for shrimp farming, especially for high-tech farms, have skyrocketed.

Mr. Minh from Bac Lieu (Ca Mau) said that he cultivates 4 sao (approximately 0.4 hectares) of shrimp ponds, but with prices dropping by 20-30%, his ponds are not profitable. "I try to cut all costs, buying feed with cash to avoid loan interest, but at these prices, I risk losing money," Mr. Minh said.

Mr. Trong from Tien Giang, a high-tech shrimp farmer, also acknowledged that at this price, he and other households would suffer losses ranging from tens of millions to hundreds of millions of dong.

Similarly, on shrimp farming forums, farmers in Soc Trang and Tra Vinh provinces are sharing that they are also "sitting on a powder keg" because the price of this seafood has dropped sharply. Many households are trying to maintain their operations while waiting for prices to recover, but for more than a week now, there has been no sign of improvement.

According to the Ministry of Agriculture and Rural Development, the reason for the continuous decline in the prices of tiger shrimp and whiteleg shrimp over the past month is the slow consumption in export markets while supply has increased.

According to VASEP, the sharp decline in exports has caused difficulties for many domestic businesses. Shrimp purchasing power in the two main markets, the EU and the US, remains significantly low due to high inflation. Although the Chinese market has reopened, export volumes continue to decline. According to Customs, in the first quarter of the year, Vietnam's shrimp exports to China reached over $54 million, a 40% decrease compared to the same period in 2022.

At traditional markets in Ho Chi Minh City, the price of commercially sold shrimp has also dropped sharply. The price of shrimp weighing 30 pieces per kilogram has decreased by 40,000 VND to 140,000-170,000 VND, while the price of shrimp weighing 40 pieces per kilogram is only 117,000 VND, and the price of shrimp weighing 60 pieces per kilogram is 95,000 VND.

Thi Ha

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