Vietnam Shrimp Market Update: Nov 11, 2021
Vietnam shrimp raw material prices have been continuously increasing for sometime but prices showed no movement this week according to frozen seafood suppliers. Vannamei shrimp raw material prices in the Mekong Delta stayed at USD7.25/kg for 30/count HOSO, USD5.33/kg for 60-count, and USD4.15/kg for 100-count.
Black Tiger prices showed the same trend with prices steady at USD11.36/kg for 20-count HOSO and USD9.18/kg for 30-count from shrimp suppliers.
Supplies are shore. Factories who want to collect more material, have to push up their purchasing price. Chinese shrimp and seafood traders are very active so far.
It is difficult to be certain at this early stage. The recent halt in price increase may be a factor of the recent spike in COVID-19 cases in Vietnam. Seafood factories are struggling to isolate infected cases among their workers. New district-wide lockdowns are causing difficulties with transport of goods and restricted movement of people. This in turn leads to a shortage of on-site workers. Number of on-site workers changes drastically everyday. Factories continue to apply strict measures to curb the spread of COVID-19.
Although prices are stable this week, many processors and exporters believe prices will continue increasing until the end of November due to high market demand for the upcoming holidays.