Following the removal of social distancing measures on April 22, the domestic shrimp market has shown signs of growing demand. However, the pangasius material market remains stagnant, presenting challenges for industry players.
Pangasius Market Analysis
In March 2020, prices of pangasius material in the Mekong Delta ranged from 18,000 to 18,200 dong/kg. Companies have maintained their production levels since early April.
While pangasius demand experienced a downward trend in the beginning of the month, prices remained relatively stable compared to the previous month. However, the Mekong Delta market for pangasius material remained flat due to reduced orders from major importers.
Notably, sales of Vietnamese pangasius to the US saw a significant decline in the two-week periods of March 25-31 (-40%) and April 01-04 (-50%). In the first quarter of 2020, pangasius exports to the EU market slightly decreased by 5% in quantity and experienced a slump in value compared to the same period last year. The US and EU are two regions heavily affected by the coronavirus pandemic, impacting the demand for pangasius.
Pangasius Export to China
In contrast, during the period of April 08-14, 2020, pangasius exports to China increased by 33% through seaway but saw a sharp decline of 43% through border gates compared to the same period last year. These fluctuations reflect the challenges and uncertainties faced by the pangasius industry in different markets.
Rising Prices of White Leg Shrimp
On the other hand, prices of white leg shrimp in the Southwest region continue to rise. In early April, white leg shrimp material, particularly size 100 pcs/kg, was sold at 73,000-75,000 dong/kg. Size 30 pcs/kg reached 128,000 dong/kg, demonstrating an upward trend.
Furthermore, size 15 pcs/kg was sold at 244,000 dong/kg, size 20 pcs/kg at 202,000 dong/kg, size 25 pcs/kg at 169,000 dong/kg, size 30 pcs/kg at 132,000 dong/kg, and size 100 pcs/kg at 90,000 dong/kg.
These price increases indicate a positive market response for white leg shrimp in the Southwest region, signaling potential opportunities for shrimp producers and exporters.
Conclusion
The shrimp and pangasius markets display varying trends and challenges. While pangasius faces export difficulties to major markets like the US and EU, the domestic demand for shrimp is expected to grow. The rise in prices of white leg shrimp in the Southwest region further highlights opportunities in the shrimp market. Industry stakeholders must carefully monitor these market dynamics and adjust their strategies accordingly to navigate the changing demands and maximize their potential for growth.
