Vietnamese Black Tiger Prices, Production Stagnant
Vietnamese black tiger shrimp producers say that increased production costs and high interest rights are hampering market growth.
Huynh Ngoc Tua, director of Vinh Loi Import-Export Co. (Vimex), says processors are unable to raise more capital to stock more shrimp material. Ngo Van Nga, general manager of Quoc Viet Co., agrees with Tua, adding that declining exports and stagnant export prices have made it unfeasible to increase production.
Prices of large P. monodon is approximately $4.83 per kilogram, 60 cents to $1.20 less than the same period a year ago.
Tua, who runs one of the largest shrimp processors with a production capacity of 10 metric tons a day, says that the global economic crisis has kept export prices stagnant. Vimex can continue its existing production capacity to avoid losses, but it can't purchase shrimp stock as in previous years.
Quoc Viet Co. is also faced with the same dilemma. Its average annual export is recorded at more than 10,000 metric tons to various markets, including major shrimp consumers like Japan, the United States and European Union countries.