Zero Exports in Some Regions
In the first 12 days of May 2020, pangasius exports to South America, the Middle East, and ASEAN countries came to a halt, reaching zero. Additionally, there was a significant decrease in exports to the US and EU markets, while exports to China only experienced a slight decline compared to May 2019. These market trends posed challenges for Vietnam’s pangasius industry.
Increased Working Days and Low Prices
Vietnam’s major pangasius producing companies responded to the situation by increasing their working days compared to the previous month. However, the prices of pangasius material remained low, reaching 18,000-18,200 dong/kg, the lowest figure recorded in the past decade. Moreover, the prices of pangasius broodstock size 30 pcs/kg in the Mekong Delta saw a decline of 1,000-2,000 dong/kg. This indicated a sluggish pangasius material market in the region during early May 2020.
Dull Domestic Demand and Stockpiles
The lackluster demand for pangasius material in the domestic market can be attributed to the slow exports observed in the first half of May, with only a few new orders and a substantial amount of stockpiles. These factors, combined with low export prices, contributed to the overall dullness of the domestic market for pangasius material.
Fluctuating Prices of White Leg Shrimp
In May, the prices of white leg shrimp material experienced a decline as some factories increased their stockpiles while the pace of exports remained slow. However, there is a glimmer of hope as the supply sources for shrimp slowly recover. As of May 21, 2020, the farm gate price of white leg shrimp size 100 pcs/kg stood at 95,000 dong/kg, showing a slight increase of 8,000 dong compared to May 13, 2020. This indicates a modest recovery in shrimp prices, albeit with ongoing fluctuations in the market. By closely monitoring market conditions and adapting strategies accordingly, Vietnamese pangasius and shrimp producers aim to navigate these challenging times and ensure the sustainability of their businesses.