April 15, 2025 | 20:59 GMT +7
Hotline: 0913.378.918
April 15, 2025 | 20:59 GMT +7
Hotline: 0913.378.918
The average shrimp price in 2022 is estimated at USD 15/kg. Photo: TL.
According to the Ministry of Industry and Trade, experts at the Global Seafood Market Conference of the US National Fisheries Institute (NFI) predict that global shrimp output in 2022 will continue to increase, reaching 5,011 million tons, a significant increase compared to 4,569 million tons in 2021 and 4.086 million tons in 2020.
Ecuador made a highlight thanks to its impressive growth in shrimp output and exceeded 1 million tons in 2021 - the highest in over a decade. Ecuador's shrimp production increased thanks to technological change and this momentum is expected to strongly continue.
Countries in Asia are producing approximately 65% of the world's shrimp, while the proportion is 30% considering those in America. Shrimp output of India, Vietnam and Indonesia all have progressed steadily. The three countries’ shrimp production volume accounts for 55% of Asia’s shrimp output. If China is included, the proportion will increase to 80%, but China usually consumes shrimp domestically.
Vietnam's shrimp production volume is forecasted to maintain its stable growth in 2022.
World Bank prognosticates that the average shrimp price in 2022 will increase by 7% compared to 2021, to USD 15/kg.
High freight rates, rising marine fuel costs and logistical disruptions, plus congestion at seaports and the lack of truck drivers in the USA and Europe, are likely to push wholesale shrimp prices even higher.
In 2021, shrimp prices average at USD 12.7/kg, up 10% from 2020. Rising logistics costs are the main driver for that spike.
From the first to the third quarter of 2021, international shipping costs from Asia to North America for 20-foot and 40-foot containers increased by 500-700% (at USD 13,000 and USD 20,000, respectively) due to the supply chain disruption.
Translated by Samuel Pham
(VAN) The Philippines is making efforts to diversify its rice import sources in order to reduce its dependence on Vietnamese rice. However, Vietnamese rice has managed to maintain its strong position in this market.
(VAN) In the Mekong Delta, cocoa has provided stable economic returns for many years. Recently, a surge in cocoa prices has created a strong incentive for farmers to expand their cultivation areas.
(VAN) Product quality, branding strategy, and technology innovation are key factors for Vietnamese bird’s nest to establish its foothold on the global map.
(VAN) KOCHAM Deputy President expects that Vietnam would accelerate innovation and development of bird’s nest-based products as a representation of Vietnamese culture.
(VAN) Imported dairy products are weakening the local industry, according to dairy farmers and processors.
(VAN) April 10 marked a significant milestone for Vietnam's agricultural exports as Vietnamese pomelos officially became available at the Lotte Mart supermarket chain in South Korea.
(VAN) Vietnam is focusing on developing the legal framework and technical infrastructure for the carbon market, with committed support from global financial institutions.
