Sharp drop in shrimp prices
Chairman of the My Thanh Shrimp Association in Soc Trang Province Vo Quan Huy reported that in recent days, domestic shrimp prices have dropped significantly. Depending on the shrimp type, size and quality, shrimp prices for selling have decreased by 15 percent to 20 percent.
The lower declines are expected in the coming days.
Amid significant declines in shrimp prices and shrimp diseases, farmers are facing a high risk of losses. In the long term, there could be a serious threat of a breakdown in the shrimp production chain.
Vietnamese shrimp exporters to the United States have reported that they are currently reluctant to offer prices or sign sales contracts with American buyers.
Several shrimp shipments already leaving the port have not anchored yet because of awaiting final decisions on applicable tariffs.
Meanwhile, the United States buyers have asked Vietnamese seafood processors to temporarily halt shipments. Currently, businesses are closely monitoring the ongoing tax negotiations between Vietnam and the United States to determine their next steps.
Proactive adaptation in challenges
Seafood remains a key economic pillar for Mekong Delta coastal provinces and cities.
As for Ca Mau Province alone, shrimp is the primary seafood product exported to the United States, with an export turnover of more than US$76 million in 2024, accounting for six percent of the province’s total exports.
In the first quarter of 2025, Ca Mau Province’s seafood export turnover is estimated at US$236 million, an increase of nine percent compared to the same period last year. Of this, exports to the United States are estimated at US$12.8 million, making up 5.4 percent of the total.
Amid the current context, Chairman of the Provincial People’s Committee of Ca Mau Pham Thanh Ngai has instructed relevant agencies and local authorities to urgently carry out communication efforts targeting locals, seafood farmers, processors and exporters regarding the limited impact of the newly imposed U.S. countervailing tariffs on the market.
The move aims to help seafood farmers, processors and exporters be confident with sustaining their planned production, farming and processing activities.
They are urged to avoid simultaneous mass harvesting, which could overwhelm processing plants and lead to localized overcapacity, causing instability in the raw shrimp purchasing market within the province.
The Chairman of the Provincial People's Committee of Ca Mau also called on seafood processing and exporting businesses to proactively coordinate with relevant departments to develop solutions for addressing difficulties and obstacles related to current and upcoming export shipments.
Additionally, businesses have been urged to strengthen trade promotion efforts, diversify export destinations by shifting part of their shipments to other potential markets, and effectively exploit the domestic market. These efforts will aim to ensure market diversification, as well as expand partners and customers domestically and internationally.
Director of the Department of Industry and Trade of Bac Lieu Province Tran Thanh Men stated that both authorities and shrimp-exporting seafood processing businesses are closely monitoring the progress of Vietnam’s negotiations with the United States regarding countervailing tariffs and are preparing various response scenarios for new adaptions.
The Director of the Department of Industry and Trade of Bac Lieu Province was committed to standing by local businesses, actively coordinating with relevant agencies to resolve challenges, especially those related to handling export goods.
He emphasized that the department is promoting access to alternative markets, ensuring no disruption in the shrimp supply chain.
A representative of the Department of Agriculture and Environment of Ca Mau Province reported that following the directives issued by the Provincial People's Committee Chairman, as of the afternoon of April 8, local shrimp farmers have stopped harvesting massively, and shrimp prices have slightly increased.
However, raw shrimp prices remain low at VND10,000 (US$0.38) per kilogram, lower than the previous prices in the period before the U.S. announced the 46-percent countervailing tariff.
