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Fimex VN: Volatile shrimp prices in early 2012
March 29, 2012, 02:11 PM
(VASEPNews) SaoTa Foods Joint Stock Company (Fimex VN) did not reach its export target set for February 2012 as the company was grappling with volatile prices of exported shrimp, rocketing input costs and negative impact of US$/VND exchange rate.
<p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">In three first months, shrimp harvest is not in full swing. At the same time, global economic downturn remained persistent, that caused low demands as well as unstable shrimp prices.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">Additionally, larger shrimp supplies from other producers like India and Central America and high production in Mexico Gulf has pushed down export prices in some countries.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">In February 2012, Fimex VN has processed 363 MT of frozen shrimp, worth US$6.3 million of total sales, up more than 50 percent from February 2011. However, this was not great result because the company had to pay for high input cost.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">Website: www.fimexvn.com<o:p></o:p></span></p>
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Specialist on Shrimp market
Ms Kim Thu
Tel: 84.24.3771.5055 (ext 203)
Portal of Vietnam Association of Seafood Exporters and Producers (VASEP)
Head office in HCM city: No 7, Nguyen Quy Canh Road, An Phu Ward, District 2, Ho Chi Minh City, Vietnam
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In charge of content: Nguyen Hoai Nam (Mr) – Deputy General Secretary of VASEP
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Email: kimthu@vasep.com.vn
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