Prices for the weekend’s harvest are $0.20 down from the last harvest two weeks ago, a 4.4% drop from last harvest, for 41 per pound count shrimp, sources told Undercurrent News on Monday.
Prices were at $4.30 as of Monday, down from $4.50 last harvest, which was two weeks ago, Crimasa general director Joel Sabando toldUndercurrent News.
Crimasa is a mid-sized processor that buys all but 90 to 95% of its shrimp from farmers, while the rest produced at its own ponds; and it spent the last week and weekend negotiating with farmers.
Sabando said these prices will likely translate into FOB prices of $4.85 to $4.90 per pound for headless shell on (HLSO) shrimp. The impact will come to US wholesalers in about three weeks, after the product is processed and shipped to the
The $0.20 drop is the first sign of market softening in months, other than a drop of $0.65 in late August that was induced by the US imposition of 10 to 13.5% countervailing duties (CVD), said Sabando.The duties have since been nullified, and prices have risen steadily since then and had been rising steadily before then as well.
Prices have risen from a level of $2.50 to $2.60 in February to $4.65 in late summer, which was the highest farm prices Sabando paid.
The cause of the price drop is more ambiguous this time around than it was then, indicating that perhaps the global market is truly softening.
It is not softening as much as processors were anticipating last week, however. As of Friday, Sabando anticipated the price would drop $0.60 from the prior harvest – far more than the $0.20 drop that ultimately became final on Monday, after the weekend harvest.
This puts processors in a better position to sell to US buyers, which two sources at major processors in Ecuador told Undercurrent have not been buying for at least the last three weeks, if not the last month and a half.
The reason US buyers have not been committing on product is because the pipeline in the US – after months of having too little product – is full, Angel Rubio, director of Latin America for Urner Barry, told Undercurrrent News.
Yet there continues to has been plenty of demand in
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn