Shrimp exports in Cà Mau Province, Vietnam are bouncing back after the COVID-19 pandemic caused a significant drop in export turnover during the first four months of the year. The province’s shrimp export turnover saw a 20 percent decline year-on-year due to the pandemic. However, the shrimp export turnover is now only 10 percent lower compared to the same period last year.
Shrimp Exports and Prices in Ca Mau Province Recovering
As shrimp exports surge, the price of shrimp material is also increasing. For example, whiteleg shrimp size 100 pcs per kilo is being sold for VNĐ86,000 (US$3.7) per kilo, up 20 percent compared to mid-March. The price of giant tiger shrimp, while still lower than before COVID-19, has also increased by VNĐ10,000 – 15,000 per kilo compared to mid-March.
Shrimp Exports Surge and Prices Rise
Several markets for shrimp, such as China, South Korea, Japan, and some European countries, are relaxing their COVID-19 prevention measures and resuming their imports. Dương Vũ Nam, deputy director of the provincial Department of Industry and Trade, said that this is contributing to the recovery of shrimp exports and prices.
Several Markets Relaxing Covid-19 Measures and Resuming Imports
To facilitate export growth quickly and sustainably, Nguyễn Tiến Hải, chairman of the People’s Committee, has instructed departments and authorities to push for more productive farming models and carry out demand and market price forecasts to help farmers with production. Businesses are encouraged to resume trade activities quickly with the countries that have controlled the pandemic early and find new markets as opposed to waiting for existing ones where COVID-19 is still active.
Efforts to Facilitate Export Growth and Find New Markets
Cà Mau has one of the largest aquaculture farming areas in Vietnam, at around 302,000 hectares, and exports nearly $1.2 billion worth of shrimp annually.