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Cà Mau shrimp industry picks up

Update: June, 15/2020 - 08:39

 

Cà Mau Province is seeing a rise in shrimp export and prices compared to mid-March. – VNA Photo Ngọc Hà 

CÀ MAU – Shrimp exports and prices in Cà Mau Province are showing signs of recovery after being heavily affected by COVID-19.

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

Since shrimp exports are picking up, the price of shrimp material is also rising. For instance, whiteleg shrimp (the 100 shrimp per kilo variety) is being sold for VNĐ86,000 (US$3.7) per kilo, which is 20 per cent higher compared to mid-March.

The price for giant tiger shrimp, while still lower than before COVID-19, has seen an increase of VNĐ10,000 – 15,000 per kilo compared to mid-March.

Dương Vũ Nam, deputy director of the provincial Department of Industry and Trade, said that 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.

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 Cà Mau’s shrimp industry.

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 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, Hải said.

Cà Mau has one of the largest aquaculture farming areas in Việt Nam, at around 302,000 hectares, and exports nearly $1.2 billion worth of shrimp annually. – VNS

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