According to the provincial People’s Committee, the province’s shrimp export turnover during the first four months of the year saw a 20 percent drop year-on-year due to COVID-19. But shrimp export turnover is now only 10 percent lower compared to the same period last year.

Shrimp sector in Ca Mau province bounces back (Photo for illustration)

Since shrimp exports are picking up, the price of shrimp material is also rising. For instance, white-leg shrimp (the 100 shrimp per kilo variety) is being sold for 86,000 VND (3.7 USD) per kilo, which is 20 percent higher compared to mid-March.

The price for giant tiger shrimp, while still lower than before COVID-19, has seen an increase of 10,000 – 15,000 VND per kilo compared to mid-March.

Duong Vu Nam, Deputy Director of the provincial Department of Industry and Trade, said that several markets for shrimp such as China, the Republic of Korea, Japan, and some European countries are relaxing their COVID-19 prevention measures and resuming their imports.

Meanwhile, large shrimp suppliers such as India and Indonesia have been heavily impacted by the pandemic, which may lower global shrimp supply and provide an opportunity for Ca Mau’s shrimp industry.

To facilitate export growth quickly and sustainably, Chairman of the provincial People’s Committee Nguyen Tien Hai 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 should 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, Hai said.

Ca Mau has one of the largest aquaculture farming areas in Vietnam, at around 302,000 hectares, and exports nearly 1.2 billion USD worth of shrimp annually.

Source: VNA