Shrimp exports likely to reach US$3.9 billion this year
Vietnamese shrimp exports are anticipated to enjoy an annual rise of 4% to reach roughly US$3.9 billion for this year, according to statistics given by the Vietnam Association of Seafood Exporters and Producers (VASEP).
Moving forward, this figure is expected to increase by 10% to US$4.3 billion by 2022.
Le Hang, deputy head of the Vietnam Association of Seafood Exporters and Producers (VASEP)’s training and promotion centre, said at a December 10 online conference on solutions to develop the shrimp industry in the remaining months of 2021 and for next year.
She underscored the need to keep tabs on the market situation, as well as the capacity of their competitors to develop a strategy aimed at promoting production recovery toward achieving stability and sustainable development.
The Vietnamese shrimp industry boast huge potential to enjoy a greater global market share and has greater advantages in terms of quality compared to its competitors.
Hang noted that at present, Vietnamese whiteleg and black tiger shrimp boast a competitive advantage over other major competitors in large markets, such as the United States, the EU, China, Japan, and the UK. This is mainly due to its high quality of frozen and value added products that are considered to be suitable for all market segments of import markets.
During the event, Deputy Minister of Agriculture and Rural Development Phung Duc Tien stressed that productivity and quality are key to promoting the competitiveness of shrimp products, while suggesting relevant agencies and localities pay closer attention to the input, especially regarding infrastructure in the production chain.
He expressed his confidence that the Vietnamese shrimp industry will surmount challenges caused by COVID-19 and climate change.
As a result, total output of shrimp will reach 980,000 tonnes and shrimp exports will earn the country between US$3.9 billion and US$4.1 billion next year.
