As of August 3rd, field reporters noted that traders in Ca Mau province were purchasing brick crabs at VND 400,000/kg. The price for the best male crabs (3 crabs/kg) stood at VND 180,000/kg, while the rate for smaller ones (below 300 grams/crab) was VND 120,000/kg.
Traders use lights to check if the crabs are fully mature.
According to 76-year-old farmer Nguyen Van Tong from Cai Nuoc district, Ca Mau province, crab prices have decreased by VND 50,000-100,000/kg compared to a month ago.
The crab seeds purchased by farmers for their breeding squares are initially no larger than peppercorns. These crabs feed on small fish and shrimp, and after more than five months of farming, they reach a weight of around 300 grams each, at which point they are ready for harvest.
“I caught 3 kg of the best male crabs and sold them to traders for VND 540,000. If the prices were as high as before, I would have made more money,” shared Mr. Tong.
Many traders explained that the drop in Ca Mau crab prices is due to the current harvest season, resulting in a large supply. “Crab prices may continue to fall until after the 15th of the seventh lunar month, as consumers in Vietnam and China tend to adopt vegetarian diets during this period,” said trader Nguyen Van Luyen.
Rice export prices will not maintain a downward trend for long
Market analysts believe that due to the tight supply, the downward trend in the export rice prices is not sustainable and will fluctuate towards an upward direction in 2024.
