October 8, 2013 — Big difficulties, one after another, have come to seafood processing companies. Chinese businessmen jumped into the domestic material market, scrambling for materials, thus rushing up the shrimp prices by two folds. Meanwhile, farmers recently have refused to sell shrimp, because they believe the prices would increase further.
Shrimp export companies have been put on tenterhooks as they are seriously lacking materials for processing.
The farmers in the coastal districts of Tra Vinh province, including Duyen Hai, Cau Ngang, Tra Cu and Chau Thanh began the shrimp harvesting in mid- September, expecting a bountiful crop.
However, the local seafood processing companies remain thirsty for materials. The merchants from other localities have come to collect shrimp in large quantities. The “war” between the local companies and the merchants has made the shrimp prices increase day by day.
The representative of the Cuu Long Seafood Processing and Export Company said though the company sets a relatively high price, which is half as high against the last year’s price, it still cannot collect shrimp.
The more the shrimp prices increase, the less shrimp products are available on the market. The upward trend in shrimp price has prompted farmers to hoard shrimp for selling later, when the prices go up.