Shrimp prices continue to decline

In the first seven months, according to MARD, production has been organized according to chain and market signals by promoting the development of cooperatives, the model of production, processing, and consumption link, and by enhancing the quality of agricultural products to meet market demands. The instruction also emphasizes the prioritization of strong agricultural products, disease prevention and control, forest protection and development, the prevention and control of natural disasters, the removal of the EC's yellow card for IUU, and the consolidation of obstacles to accelerate the distribution of public funds. 

Concerning market development, promoting agricultural product consumption, and stabilizing agricultural product prices, the Ministry of Agriculture and Rural Development closely monitors market fluctuations, production and supply situation, focusing on agricultural products during the peak harvest season. Promote, educate, and direct production and business in order to meet market demand, limit factors influencing agricultural product prices, and protect people's interests.

In addition, it coordinates activities to promote the trade and utilization of agricultural products, directs the work of market opening, strengthens international cooperation activities, and contributes to enhancing Vietnam's and the agricultural sector's status.

Focusing on developing a transparent and sustainable food system, having solutions to adapt to new import market regulations, and continuing to address market issues in order to create favorable conditions for agricultural exports of agro-forestry-fishery products, particularly to China, the United States, the European Union, and the Eurasian Economic Union...

Consequently, the estimated export turnover of agricultural, forestry, and fishery products in July was USD 4.62 billion, an increase of 5.3% over the same period, bringing the total export turnover of agro-forestry-fishery products in the first seven months to USD 29.13 billion. The import of agricultural, forestry, and fishery products in July was estimated at 3.79 billion USD, bringing the total import turnover of agricultural, forestry, and fishery products in the first seven months of 2023 to 23.25 billion USD, a decrease of 11.8% compared to the same period in the prior year. 

Regarding the supply and demand of agricultural products, the price of summer-autumn rice in the Mekong Delta increased by 200 to 500 VND/kg in July, depending on the type. Compared to June, the prices of various vegetables and fruits in Lam Dong, such as green scallions, green lolo lettuce, and ascending beans, increased significantly.

Dragon fruit, rambutan, jackfruit, seedless lemon, etc., had a tendency to decrease significantly in the fruit market in certain southern provinces during the month of July as a result of an abundance of harvest-time supply. In the meantime, mango, mangosteen, and durian prices progressively rise as the harvest season draws to a close and yields decline.

As for livestock products, in July prices for live hogs fluctuated in contrary directions across the nation. Prices for live pigs in the North increased by 3,000 VND/kg, spanning between 62,000 and 64,000 VND/kg. The price of rice in the Central region - Central Highlands is stable, fluctuating between 59,000 and 62,000 VND/kg. The South costs between 59,000 and 62,000 VND/kg.

In July, the price of poultry purchased from a farm fluctuated and increased in various regions. The price of poultry eggs in the North rose by 100 VND per egg to between 1,700 and 2,100 VND. The Central region dropped by 100 VND per product to between 1,700 and 1,900 VND. The Southeast and Southwest increased by 100 VND per fruit to a range of 2,100 - 2,300 VND per fruit.

Raw pangasius prices in the Mekong Delta remained stable in July, oscillating between 26,500 and 27,500 VND per kilogram. When the capture of large corporations is low in the system of ponds at home or in association, some households cease farming temporarily after selling them. The market demand for fresh fish decreased, causing the price of fingerlings to continue falling to its lowest level since the beginning of the year, presently between 20,000 and 22,000 VND per kilogram.

The price of raw shrimp continues to decline and is now at its lowest level since the beginning of the year, as it is presently the peak season for shrimp cultivation not only in Vietnam but also in other shrimp-producing nations such as Ecuador, India, and Indonesia, while exports remain stagnant.

In the first seven months of the year, the domestic market for agricultural materials and fertilizers was relatively stable. It is anticipated that fertilizer prices will remain low in the near future due to abundant supply, low demand, and the downward pressure of declining global prices. The price of animal fodder stabilized again in the second quarter after fluctuating during the first three months of the year.