HANOI: The Vietnam Association of Seafood Exporters and Producers (Vasep) said shrimp export turnover is expected to reach only $3 billion in 2015, down $1bn over last year.
Meanwhile, farmers in major shrimp production areas in the Mekong Delta have fallen into heavy losses because of diseases and price drop, reports Saigon GP.
Latest statistics by the Department of Agriculture and Rural Development in Cau Ngang district, Tra Vinh province show that 41% of over 6,000 shrimp farmers are suffering losses this year, nearly 11% are breaking even and the rest are making an insignificant profit.
Vo Bang Truc, chairman of Thanh Phuoc commune People’s Committee, said that most locals live by shrimp farming and have been hard hit by the price plunge and diseases. It is estimated that 80-90% of farmers in the area are incurring losses or just breaking even.
The situation for traders and processors is not much better than farmers.
Tran Van Linh, director general of the Thuan Phuoc seafood and trading company, said that many nations have reduced imports and export prices dropped about 30%, resulting in the export value plunge.
Exchange rate fluctuations have also hit the shrimp industry’s competitiveness.
Large-cap firms report at least VNĐ3 trillion in 2019 pre-tax profit
HÀ NỘI: Most large-cap firms have released full-year earnings reports for 2019 with 29 companies reporting a pre-tax profit of...
