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Prices Up 20-30%


Farmers in Ca Mau and Bac Lieu provinces have started investing in shrimp farming again because shrimp prices have been increasing since March 2017.


Farmers are getting $10.00 to $13.64 a kilogram for shrimp, an increase of 20-30%, compared to same period last year, said farmer Tran Quang Hien in Ca Mau Province.


Trader Tran Van Hoang said prices might continue to rise because the rainy season could cause production on the farms to drop.


According to the head of Bac Lieu Province Department of Aquaculture Pham Hoang Giang, Bac Lieu has 130,000 hectares of shrimp farms.  He said, “Export companies have lots of contracts.  ...Many seafood processing companies said the prices would be high until the end of the year as many contracts haven’t been fulfilled.”


Statistics from Ca Mau Province People’s Committee show that farmers harvested 16,250 metric tons of shrimp in August 2017, an increase of 25%, compared to the same period last year.  The total farming area also increased.


Source:  Farmers Turn to Shrimp as Prices Soar.  September 22, 2017.


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