After Tet, supply is scarce, shrimp prices soar

Currently, shrimp prices at traditional markets are high, from 200,000-400,000 VND/kg. Photo: Thanh Phuc

According to a survey, currently in the markets in Vinh city, white leg shrimp of 20-25 pieces/1kg cost 370,000-400,000 VND/kg; 40-50 pieces cost 300,000-320,000 VND/kg; 60-70 pieces cost 250,000-270,000 VND/kg, the lowest is 90-100 pieces/1kg cost 200,000-210,000 VND/kg. This is considered the highest price ever, 2-3 times higher than 2 months ago and 50% higher than Tet shrimp.

“Shrimp prices are rising every day. Big shrimp are expensive but still in short supply. Every market session, wholesalers have to beg to leave a few kilos for retail. Shrimp is expensive but still easy to sell because people's demand is high, especially hot pot restaurants attracting customers after Tet,” said Ms. Nguyen Thi Phuong, a seafood trader at Hung Dung market (Vinh city).

Due to high prices and scarcity of goods, traders said they can only sell about 10kg of shrimp per market session. Photo: Thanh Phuc

Not only at traditional markets but also at fresh seafood stores, shrimp prices are also sky-high and supply is scarce. Ms. Phung Thi Mai, owner of a fresh seafood store on Hong Bang Street, said: "Whiteleg shrimp and tiger prawns are mainly imported from Tien Giang, Ca Mau, and Binh Thuan at this time. Shrimp prices have increased due to the lack of abundant supply as the southern shrimp have not yet entered the harvest season and the northern and central regions have not yet entered the farming season. Meanwhile, transportation costs have increased sharply compared to before."

Shrimp prices are high and easy to sell, but at this time, in Nghe An, there is almost no shrimp to harvest.

Some ponds were stocked with shrimp a month ago, so it will take another three months to harvest. Photo: Thanh Phuc

Mr. Nguyen Van Hoa, owner of Hoa Phat shrimp farm (Xom Xuan Chau, Dien Kim commune, Dien Chau district) said: “On the occasion of Lunar New Year, our farm sold 30 tons of commercial shrimp to the market. In early January 2023, we had just released nearly 1 hectare of off-season shrimp, but it was not until April 30 that we had shrimp to sell to the market. At this time, only a few households have shrimp left in their ponds, but the quantity is not much. Therefore, although the price is many times higher than before, shrimp farmers in Nghe An have no goods to sell.”

Some ponds harvested leftover shrimp, but the quantity was very small. Photo: Thanh Phuc

Harvesting the last batch of shrimp to prepare the pond for the new crop, Mr. Nguyen Van Hao (Bac Thang hamlet, Nghi Tien commune, Nghi Loc district) has just sold nearly 100 kg of remaining shrimp to traders at 340,000 VND/kg for 25 shrimp. Mr. Hao said: "Compared to this time last year, the price of shrimp has increased nearly 3 times. With this price, shrimp farmers make a big profit, but unfortunately there is no more to sell."

According to Mr. Hao, if in previous years, at this time, shrimp prices increased but not significantly and many shrimp ponds in Nghe An still had products to supply to the market. However, this year, due to unfavorable weather, unseasonal rains, floods, and diseases, the winter shrimp crop failed, so the supply to the market was less.

Shrimp farmers treat ponds in preparation for the new crop in early April 2023. Photo: Thanh Phuc

Currently, most shrimp ponds in the province are being renovated, preparing for a new stocking season in April 2023; some high-tech shrimp farming models have stocked shrimp a month ago but the shrimp have not yet reached the selling stage, so there is no supply to the market. Accordingly, it is forecasted that in the next 2-3 months, shrimp prices will continue to be high.