Raw material prices of Vannamei and Black Tiger shrimps continue to increase this week. It is forecasted to increase from now till early 2022 as a result of high demand for Christmas season and Chinese New Year. Main size of Vannamei is 50-80 count, and Black Tiger is 20-40 count. The new infected cases in Mekong Delta are increasing again have create difficulties for the manufacturers and shrimp farmers.
The high overhead costs put pressure on the manufacturers to restore production after social distancing. The business’s recovery process is being affected by the disruption of the supply chain of raw materials, the loss of orders due to the long time to implement social distancing and the failure to ensure the delivery schedule, especially it is difficult to recover full labor force for production.
In the first nine months of 2021, shrimp exports to the US increased 22% to 775 million USD. The US is currently Vietnam’s largest shrimp export market, accounting for 28% of shrimp exports. In which, vannamei shrimp reached USD 690 million, up 20%, black tiger shrimp reached USD 68 million, up 46%.
According to economists and some business leaders, shipping redundancy at major U.S. ports, leading to cargo shortages and rising prices, is unlikely to be resolved until mid-2022.
The main shrimp export countries such as India, Indonesia, and Thailand are also ravaged by the Covid19 epidemic. The shrimp supply chains of these countries were also broken, causing a shortage of shrimp supply in the world market.
Covid-19 situation:
Vietnam Nationwide
Ho Chi Minh City
Hanoi
Khanh Hoa (Nha Trang)
Da Nang
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