REVIEW FOR VANNAMEI PRICES IN 2020

REVIEW FOR VANNAMEI PRICES IN 2020

1. Viet Nam vannamei shrimp prices follow the seasonal rule: 6 increasing months and 6 reducing months for all sizes 

+ Increasing from September to next March

+ Reducing from April to August annually

2. Size group:
+ Big sizes (80 pcs/kg up): following the common rule, don’t have the difference of some sizes up and some sizes down in the same period of time.
+ Small sizes (90 pcs/kg down): the pricing progress chart is as same as the pricing chart of the big sizes but having lag behind about 1-2 months; reducing from May-June because of the beginning of harvesting season due to the supply is abundant, increasing from October due to the end of harvesting season.

3. Some factors affect to the pricing progress of Vannamei in 2020:
+ Beginning from 20/4/2020, farmers were panic with the coronavirus pandemic so that they harvested massively and factories were stagnant with much shrimp leading to reducing of prices much more compared with the normal scale of every year.

+ In September - October: even the increasing cycle started but the prices were still low and pinning to December then becoming normal although the supply source was scarce. This is explained that even the prices increased there was no shrimp in farmers to buy.

4. Forecasting prices in 2021:

+ Still following the seasonal rule as said above

+ The prices of shrimp would bounce back strongly if vaccines against the pandemic are injected widely and many countries contained the pandemic safely; then food services and hospitality are returning quickly leading to the huge consumption of shrimp

+ Prices of big sizes: if the pandemic in shrimp-producing countries is still bad then the increasing cycle could last and maintain high

+ Prices of small sizes: it is very hard to achieve the peak as 23/12/2019 (105.000 vnd/kg - size 100 pcs/kg), unless China and South Korea markets become strong again

Source: Seabina collected