Seafood exports 'lost' 1.3 billion USD, shrimp and fish prices dropped sharply; many agricultural products increased in price

Seafood exports "lost" 1.3 billion USD, shrimp and fish prices dropped sharply

Seafood exports continued to decline, with a loss of more than 1.3 billion USD compared to the same period last year. Prices of raw shrimp and pangasius at farms in the southern region also fell sharply due to oversupply.

Preliminary statistics from the General Department of Customs show that last May, our country's seafood exports reached 809.5 million USD, up 8.9% compared to April 2023 but still down sharply compared to 1.06 billion USD in May 2022.

By the end of May 2023, exports of this group of goods only reached nearly 3.38 billion USD, down 27.9% - a loss of more than 1.3 billion USD compared to the same period last year.

Seafood exports continue to decline, with a loss of more than 1.3 billion USD compared to the same period last year.

A report by the Ministry of Agriculture and Rural Development shows that key seafood export items all recorded a sharp decline in the first five months of this year. Of which, tra fish exports only earned 690 million USD, down 40.7%; shrimp reached 1.22 billion USD, down 34.4% over the same period in 2022.

In May 2023, raw shrimp prices in the Mekong Delta region tended to decrease for both black tiger shrimp and whiteleg shrimp due to slow exports, while high harvest volume led to oversupply.

Specifically, in Bac Lieu, the price of large iced black tiger shrimp 20 pieces/kg decreased by 18,000 VND/kg compared to last month to 242,000 VND/kg; size 30 pieces/kg decreased by 13,000 VND/kg to 197,000 VND/kg; size 40 pieces/kg decreased by 5,000 VND/kg to 145,000 VND/kg.

The price of frozen whiteleg shrimp, size 30 pieces/kg, decreased by 18,000 VND/kg compared to last month, down to 117,000 VND/kg; sizes 40, 60, 70 pieces/kg decreased by 8,000-10,000 VND/kg to 111,000 VND/kg, 91,000 VND/kg, 83,000 VND/kg respectively; size 100 pieces/kg decreased by 5,500 VND/kg to 76,500 VND/kg.

Similarly, the price of raw pangasius in the Mekong Delta provinces continued to decrease in May 2023 due to low import market demand. Along with the downward trend of raw fish prices, the price of pangasius fingerlings also decreased sharply. The size of 30 fish/kg fingerlings decreased by VND 10,000-12,000/kg compared to the previous month, down to VND 27,000-28,000/kg.

According to the Ministry of Agriculture and Rural Development, the world economy continues to face many difficulties, high inflation in some developed countries, and tight monetary policies, especially in large markets such as the US and Europe, making it difficult for businesses to sign and execute orders.

Domestic coffee prices continue to remain high

Coffee prices today, June 13 in the domestic market continue to fluctuate at a high level, currently at 64,400 - 65,100 VND/kg.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province increased by 300 VND/kg. In districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 64,300 - 64,400 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces increased by VND100/kg, standing at VND64,600/kg.

In Dak Nong province, coffee was purchased at the highest price of 65,100 VND/kg, an increase of 200 VND/kg.

Today's coffee price in Dak Lak province increased by 200 VND/kg, in Cu M'gar district the coffee price is currently at 64,900 VND/kg. In Ea H'leo district and Buon Ho town, the price is 65,000 VND/kg.

Regarding world coffee prices, coffee prices on both London and New York exchanges increased simultaneously.

Robusta coffee prices on the London (UK) exchange have had a record week of price increases. Robusta coffee prices have reached a record level in over 15 years (after deducting inflation and depreciation), currently the delivery term of July 2023 is at 2,767 USD/ton.

Arabica coffee prices on the New York Stock Exchange (USA) also had a favorable week of price increases, with Arabica coffee prices for July 2023 delivery reaching 192.05 cents/lb, with very strong trading volume.

According to experts, the main reasons for the sharp increase in coffee prices include: the global shortage of Robusta supply. It is forecasted that the supply of Robusta in 2023 will decrease by about 10-15% compared to 2022. In addition, due to the impact of the El Nino phenomenon, increased drought may cause the coffee productivity of the 2023-2024 crop year in Vietnam and Indonesia to decrease (Vietnam is the world's largest exporter of Robusta coffee, Indonesia is a major exporter of coffee), which makes coffee prices in the coming time forecast to continue to increase and reach new peaks.

Rice price increased by 100 VND/kg

Rice prices today, June 13, in the Mekong Delta increased by 100 VND/kg for rice and 50 VND/kg for bran. The market is stable.

Accordingly, AG sticky rice (dry) is priced at around 8,000 - 8,400 VND/kg, Long An sticky rice (dry) is priced at around 8,400 - 8,800 VND/kg; OM 18 is purchased by traders at 6,800 VND/kg; OM 5451 rice is priced at 6,300 - 6,500 VND/kg. IR 50404 rice is priced at around 6,200 - 6,400 VND/kg. Nang Hoa 9 rice is purchased by traders at around 6,600 - 6,800 VND/kg. Dai Thom 8 rice is priced at around 6,800 - 7,000 VND/kg. Nhat rice is priced at around 7,800 - 8,000 VND/kg. Nang Nhen rice (dry) is priced at 13,000 VND/kg; AG sticky rice (fresh) costs 6,200 VND/kg.

In the export market, the export price of 5% broken rice from Vietnam is being offered at 498 USD/ton.

Regarding rice, the price of raw rice and finished products increased by 100 VND/kg. Accordingly, the price of raw rice fluctuated around 9,600 - 97,000 VND/kg, an increase of 100 VND/kg; finished rice was at 10,850 - 11,000 VND/kg, an increase of 50 VND/kg. Regarding by-products, the price of broken rice remained stable while the price of dry bran increased by 50 VND/kg. Accordingly, the price of broken rice remained stable at 9,400 - 9,500 VND/kg; dry bran was 7,400 - 7,650 VND/kg, an increase of 50 VND/kg.

According to traders, raw rice supplies are low today. Traders said they are stepping up purchases of rice from farmers to fulfill rice export contracts this year.

In the export market, the export price of 5% broken rice from Vietnam is being offered at 498 USD/ton. Meanwhile, the price of 25% broken rice is at 478 USD/ton; Jasmine rice is 578 USD/ton.

According to Mr. Pham Thai Binh - General Director of Trung An High-Tech Agriculture Joint Stock Company, since the beginning of the year, the company has exported more than 5,000 tons of rice to the European market; about 32,000 tons of rice to Korea; in addition, it also exported to markets such as the Middle East, Malaysia, China...

Rice exported to Europe is fragrant rice with the highest price of 1,250 USD/ton, the lowest is 700 USD/ton. In the Korean market, the export price also reached 595 USD/ton. This is a quite high price in recent years.

In the context of increasing global demand for food, the company's export activities are expected to remain very active in the coming months.

Pepper price increased sharply by 1,500 VND/kg

Pepper prices today, June 13, in the domestic market increased after many sessions of decline. Currently, domestic pepper prices fluctuate around 70,500 - 73,500 VND/kg.

Accordingly, pepper price today increased by 500 VND/kg in Gia Lai, increased by 1,000 VND/kg in Dak Nong, Dak Lak and increased by 1,500 VND/kg in the Southeast region. Currently, domestic pepper price fluctuates around 70,500 - 73,500 VND/kg.

Accordingly, in the Central Highlands region, pepper prices today fluctuate around 70,500 - 72,000 VND/kg. Specifically, Chu Se pepper price (Gia Lai) on June 13 is being purchased by traders at 70,500 VND/kg, an increase of 500 VND/kg. In Dak Lak and Dak Nong provinces, pepper prices remain around 72,000 VND/kg, an increase of 1,000 VND/kg.

Pepper price today increased sharply by 1,500 VND/kg.

In the Southeast region, pepper prices today increased sharply by 1,500 VND/kg. In Ba Ria Vung Tau, pepper prices are being purchased by traders at 73,500 VND/kg, an increase of 1,500 VND/kg. In Binh Phuoc, pepper prices are at 73,000 VND/kg, an increase of 1,500 VND/kg; Dong Nai 72,000 VND/kg, an increase of 1,500 VND/kg.

Pepper prices in the domestic market today rebounded after many sessions of downward adjustment. Since the beginning of the year, pepper prices have increased sharply by about 26%. In the first days of June, pepper prices tended to cool down after a hot increase that lasted from the beginning of April to the end of May. However, the price is still hovering around 70,000 - 72,000 VND/kg.

The surge in exports to China after the country reopened after a long period of implementing Zero COVID policy is one of the main reasons for the increase in pepper prices.

Accordingly, the amount of pepper exported to the Chinese market in the first 5 months of 2023 increased more than 17 times over the same period last year to 46,169 tons, equivalent to about 35% of the total pepper export volume of the whole country.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 3,758 USD/ton; the price of Muntok white pepper at 6,207 USD/ton.

In the remaining countries, pepper prices remained stable. The price of Brazilian black pepper ASTA 570 was at 3,350 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton; the price of Malaysian white pepper ASTA remained at 7,300 USD/ton.

Vietnam's black pepper price is trading at 3,500 USD/ton for 500 g/l, 550 g/l at 3,600 USD/ton; white pepper price is at 5,000 USD/ton.