Seafood News
Raw material prices of Vannamei and Black Tiger shrimps from beginning of November has increased in an average of 0.45 USD/kg compare to October price. The high price is staying stable with high demand from the shrimp processors to meet shipment schedule for Christmas. Main size of Vannamei is 50-80 count, and Black Tiger is 20-40 count.
Shrimp processors are facing the lack of raw materials when the shrimp season is in the final stage. The amount of raw material is not much because during the period of social distancing, shrimp prices are very low, farmers make a lot of losses, so most of them do not start a new stocking. The shortage of raw shrimp has been predicted in advance, so the processors have proactively purchased and stocked during the period of social distancing, but in general still cannot meet the processing demand from now until the end of the year.
Provinces in Vietnam’s Mekong Delta region have recently reported more than 2,000 new Covid-19 cases per day, prompting authorities and seafood processors to immediately take measures to curb the coronavirus spread.
As of October 15, 2021, Vietnam’s shrimp exports to the EU reached nearly $439 million, up 10.3% over the same period last year. The three main import markets for Vietnamese shrimp in the EU are Germany, the Netherlands and Belgium. As of October 15, 2021, shrimp exports to Germany and Belgium increased by 20% and 2%, respectively, and exports to the Netherlands decreased by 1%.
Through a recent online meeting with the European Commission (EC) on combating illegal, unregulated and unreported fishing (IUU), the EC continued to affirm that Vietnam has made great efforts to overcome the “yellow card”, especially with very specific attention and direction from the Secretariat, the Government, the Prime Minister.
Higher seafood retail prices do not change the optimistic forecast for holiday sales in the United States. A new report shows that, although the high inflation, retail seafood increased 13-14% in October, compared with 7-8% in September, but customers will certainly spending more money for any seafood during the year-end holidays.
Covid-19 situation:
Vietnam Nationwide
Ho Chi Minh City
Hanoi
Khanh Hoa (Nha Trang)
Da Nang
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