Shrimp exports decline sharply, inventory at about 20,000 tons

Due to the Covid-19 pandemic, many large shrimp importers of Ca Mau Province have temporarily halted, reduced, and rescheduled orders, forcing shrimp enterprises in the province to temporarily store goods in large quantities.

Processing shrimps for export in Ca Mau Province. (Photo: SGGP)

On August 4, the People’s Committee of Ca Mau Province said that the processed shrimp output in the first seven months of this year reached 65,458 tons, accounting for 44 percent of the plan, an increase of 8 percent over the same period last year. Although the output of processed shrimp increased, shrimp exports from the beginning of this year until now have faced many difficulties. Specifically, seafood export turnover, mainly shrimps, in the first seven months of this year reached US$446 million, achieving 39 percent of the plan, down 12 percent over the same period last year.

Ca Mau is the leading province in shrimp production, as well as shrimp export turnover of the whole country with about $1.2 billion per year. Because of the impacts of the Covid-19 pandemic, many large shrimp importers of Ca Mau province, including the US and China, suspended, decreased, and delayed orders, causing enterprises in the province to temporarily store goods with large quantities. The current shrimp inventory is about 20,000 tons.

Therefore, many shrimp processing enterprises for export have also weakened purchasing power or bought at low prices, leading to a sharp decrease in the prices of raw shrimps. The price of raw black tiger shrimps decreased by about 30 percent, that of white-leg shrimp decreased by about 15 percent.

To face the above situation, the authorities of Ca Mau Province encouraged shrimp farmers to apply appropriate adjustment measures, such as changing from farming large-sized shrimps to farming small-sized shrimps and restoring production of the intensive shrimp farming areas, and super-intensive shrimp farming areas.