(vasep.com.vn) Shrimp companies are being affected as shrimp production in Mekong Delta got severe damage due to disease. Lower shrimp supply makes raw material prices much higher than those in global market, according Sao Ta Foods Joint Stock Company (Fimex VN).
Recently, Thailand producers are in full shrimp harvest and offer their products at lower levels than Vietnam quotations. In contrast, increasing input costs (including electricity, fuel, materials and worker salary) and scarcity of raw shrimp make Vietnam exporters difficult to put down their shrimp price.
Negative VND/US$ exchange rate coupled with high bank loan rate also weakens the competitiveness of Vietnam seafood export companies.
In May 2012, Fimex VN produced 600 MT of finished products, in which it traded more than 500 MT for US$5.5 million of sales. To the end of May, the firm has exported over 2,300 MT of shrimp, remaining export level of US$27.5 million in 2011.
Website: www.fimexvn.com