Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Farmed shrimp. (Photo: Stock File)

Shrimp price recovery forecast in Q3

Click on the flag for more information about United States UNITED STATES
Friday, July 13, 2018, 02:50 (GMT + 9)

The Vietnam Association of Seafood Exporters and Producers (VASEP) expects shrimp price to recover in August and September this year after having dropped over the past months, especially in the second quarter. 

The VASEP explains that shrimp crops in major suppliers like India, Bangladesh and Thailand have finished, causing a decline in supply sources, while many Vietnamese firms have received big orders for year-end events.

Experts advised that farmers should not hastily sell their immature shrimp, but farm big shrimp for better profit as the resource price.

At the same time, shrimp farmers should use new technology, while focusing on fostering cooperation towards value chains to improve product quality and reduce costs.

VASEP informed that Vietnam’s shrimp exports started falling in April this year when revenue reached only USD 257.2 million, representing a fall of 0.4 per cent over the same period last year.

The sector experienced sharper year-on-year drop of 5.7 per cent in May and even 15 per cent in June.

The increase in global shrimp supply sources and the decrease in prices led to a slump in domestic shrimp prices starting in April. Notably, the price of white-leg shrimp has fallen 20-30 per cent and is yet to see signs of recovery.

Many international organisations predicted that shrimp output of major world suppliers will recover, with total production exceeding 3.5 million tonnes in 2018, the highest point in 10 years.

This year, many big shrimp suppliers have also given support policies to boost the sector’s growth, resulting in higher production, while demand has decreased.

Tran Van Linh, General Director of seafood company Thuan Phuoc said that the impacts of the increase in USD price compared to other currencies such as Euro, Japanese yen and Korean won has also been a challenge for shrimp exports.

Linh expressed fears that if shrimp prices do not increase in the rest of the year, exporters will experience a lack of material sources as farmers reduce their shrimp farms.

Despite the downturn in shrimp exports in the second quarter, revenue in the first six months of this year still expanded about 7.6 per cent to USD 1.6 billion thanks to growth of more than 20 per cent in the first quarter. Particularly, exports of white-leg shrimp grew 18 per cent with USD 1 billion in value.
 
[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Peru
Jul 18, 02:10 (GMT + 9):
EU sanitary authority approves control systems for bivalve mollusks
United States
Jul 18, 02:10 (GMT + 9):
Immigrant visa cap crushes Texas shrimp industry
Jamaica
Jul 18, 01:20 (GMT + 9):
US-China trade battle could benefit Jamaican lobster exporters
Rwanda
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Fish farmers decry lack of quality, affordable fish feeds
India
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Fishermen unhappy over poor fish catch
Republic of Ireland
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Thirteen hospitalised after fish factory gas leak
United States
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Are Chesapeake Bay dolphins eating all the fish?
Republic of Ireland
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Over 10,000 protected lamprey fish killed in suspected chemical poisoning
Australia
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Salmon return to destocked Macquarie Harbour Franklin lease after environmental tick
United Kingdom
Jul 18, 01:00 (GMT + 9):
IN BRIEF - Kilkeel fish plant: Two 'stable' after ammonia leak
South Africa
Jul 18, 01:00 (GMT + 9):
Fishing vessel detained under ILO convention
Spain
Jul 18, 00:00 (GMT + 9):
Environmental organizations call for Iberian sardine recovery plan
Viet Nam
Jul 17, 23:50 (GMT + 9):
Brazil attracts Việtnamese seafood exporters' attention
Spain
Jul 17, 23:00 (GMT + 9):
Andalusia approves new fisheries trade decree
European Union
Jul 17, 22:40 (GMT + 9):
EU and Japan sign free trade agreement



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Illegal salmon nets seized in Donegal
United Kingdom Inland Fisheries Ireland has seized 26 untagged salmon in the Glenties area in Donegal and 1100 yards of illegal salmon drift nets off Inishbeg Island.
Post-Brexit UK's fishing proposals promote sustainability
United Kingdom The UK government has released its proposals for the future trade with the European Union after leaving the bloc, next March.
Hvalur hf accused of slaughtering blue whale, angering marine conservationists
Iceland An Icelandic anti-whaling group has accused company Hvalur hf of slaughtering an endangered blue whale in the fjord of Hvalfjordur, which sparked anger among marine conservationists.
Friend of the Sea praises Sri Lanka’s tuna processor for yellowfin tuna conservation efforts
Sri Lanka Non-government organisation Friend of the Sea awarded a Sri Lanka’s tuna processor for its commitment towards yellowfin tuna conservation in the Indian Ocean.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2018 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER