Shrimp prices have plummeted in the Mekong Delta since global demand has been hit severely by the COVID-19 pandemic.
For instance, white leg shrimp of 100 shrimp per kilogramme size now cost 5,000 – 70,000 VND (2.74 - 2.95 USD), around 20,000 – 25,000 VND less than a year ago.
The price of giant tiger shrimp in Ca Mau province has decreased by 40,000 – 70,000 VND compared to just a week ago.
Chau Cong Bang, deputy director of the province Department of Agriculture and Rural Development department, said in the last 10 days the prices of shrimp are falling due to European markets being affected by the pandemic.
Many seafood exporters said their shrimp orders have fallen by 30 – 50 percent, according to Sai Gon Giai Phong newspaper.
Farmers are being advised to stay calm, follow the latest developments and weather changes, sell their goods to distributors and traders who offer market prices and do not resort to panic selling.
Farmers who have completed their harvest are advised to consider carefully before beginning a new shrimp crop or temporarily switch to farming something else.