“Shrimp Prices Take a Tumble in Ba Ria-Vung Tau”

According to shrimp farmers in Ba Ria-Vung Tau province, shrimp prices have been on a downward spiral since the Lunar New Year. The scorching heat during the cultivation period, coupled with the current rainy season, has made shrimp more susceptible to diseases and slower in growth. As a result, farming costs have soared, and the low selling price has left many farmers in a financial bind, with some even opting to abandon their ponds.

Le Trong Nghia, a resident of Loc An commune in Dat Do district, owns 14 shrimp ponds spanning almost 5 hectares. He shared that the steep drop in shrimp prices, coupled with unfavorable weather conditions, has led to slower shrimp growth and higher costs. The significant losses prompted Mr. Nghia to take a break from farming, awaiting more stable prices before resuming his operations.

According to farmers, the current selling price of shrimp is 120,000 VND/kg (for a size of 35 shrimp/kg), while the farming cost incurred by farmers is also 120,000 VND/kg. At the current selling price, farmers are barely breaking even, and a further drop in prices could result in significant losses.

Nguyen Van Thuyet, Director of the Cho Ben Cooperative in An Ngai commune, Long Dien district, shared a similar sentiment. Despite reaching the harvest season, the cooperative has decided to delay harvesting for an additional 10-15 days, hoping for a surge in shrimp prices.

The impact of low shrimp prices extends beyond individual farmers and cooperatives. Seafood export businesses are also facing challenges. Tran Van Dung, CEO of Baseafood, revealed that since 2023, shrimp prices have consistently remained low while sea freight rates have skyrocketed by 40-60%. As a result, the company has halted shrimp exports this year.

Even high-tech shrimp farming cooperatives like the Quyet Thang Agricultural Cooperative in Long Huong ward, Ba Ria city, have had to adapt to the unfavorable weather conditions and rising costs. They have shifted from high-density to low-density farming to mitigate disease risks and have established their own hatchery to reduce the farming period from 3 months to 2 months per crop. By shortening the farming period and reducing density, the cooperative can expedite harvests, enabling them to be more agile in responding to market price fluctuations and minimizing losses during periods of low prices.

“To compensate for the reduced density, we have increased the number of crops per year from 3 to 5. With these adjustments, I am optimistic that the market will improve in the second half of the year, especially in the fourth quarter, when countries increase their shrimp purchases for year-end festivities,” shared Nguyen Kim Chuyen, Director of the Quyet Thang Agricultural Cooperative.

According to the Department of Agriculture and Rural Development of Ba Ria-Vung Tau province, the shrimp farming area in the province spans 2,895 hectares, with a total shrimp production of 4,100 tons in the first six months of the year, equivalent to the same period last year. White-legged shrimp accounts for nearly 80% of the total production. Every month, the Department collects water samples to monitor and provide early warnings about the environment in the province’s aquaculture areas. They also offer guidance on disease prevention and sustainable aquaculture practices.

Currently, there are 23 organizations and individuals in the province engaged in high-tech aquaculture and seed production, covering an area of over 429 hectares (an increase of 17.15 hectares compared to the previous year). Among them, 21 enterprises and cooperatives are dedicated to high-tech white-legged shrimp farming, with a total area of 417.31 hectares.