Coronavirus outbreak: Vietnamese shrimp prices down 25%, Siam Canadian reports: Undercurrentnews
Farmgate prices are down about 25% for Vietnamese vannamei shrimp, reports the Siam Canadian Group, a company focused on Asian shrimp trade, in its latest newsletter.
Most Vietnamese farmers of vannamei shrimp are aiming to grow to size 30 pieces (head on shell on, cooked and peeled) per kilogram, the company said. Last year the price for such shrimp was about VND 165,000-170,000 ($7.12 to $7.33)/kg, but now they’re selling for VND 125,000 ($5.39)/kg.
For 60-count (about 31/40 headless shell on — or HLSO — and peeled tail on — or PTO), last year’s price was about VND 140,000/kg, but now its only VND 115,000/kg.
The market demand for size 31/40-71/90 (HLSO/PTO) and smaller is strong, “although that is not an ideal size for farmers to harvest in terms of yields”, Siam Canadian advised. “However to achieve these sizes with competitive costing, Vietnam will start to do heavier stocking density levels and partial harvests again. This will help seafood processors, suppliers and exporters grow their market shares.”
The Vietnamese shrimp industry is heading into a bit of lull in production.
“Due to the change from industrial-scale intensive farming to extensive farming, now in July, [black tiger] shrimp farmers [have started] to take parent stock for the hatcheries and start seeding after hatching,” the company explains. “The farming period is generally from August to December and harvest season is now December to May, then delivering to frozen seafood processors.”
Normally in June, black tiger shrimp is farmed less and the farmers instead treat their ponds, as the habitat and soil are more alkaline at that time.
As for vannamei, some farms harvested early this year, in March and April, to get ahead of weak prices due to the coronavirus pandemic. They will reseed again in May and June, setting up harvests for August through October, Siam Canadian reported, adding: “Therefore June and July shrimp landings will be short and a second crop will be further delayed.”