Viet Nam targets $4.2b in shrimp export value this year

Thursday, Mar 14, 2019 08:54

Traders buy shrimp in the southern province of Bac Lieu. — VNA/VNS Photo Huynh Su

Viet Nam will target at US$4.2 billion in shrimp export value this year, higher than $3.6 billion in 2018, according to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD).

The figure was released at a conference on developing production and business plans for the domestic shrimp industry this year that was held on Wednesday by MARD in Soc Trang Province, one of large shrimp production localities in Viet Nam.

The directorate said the industry was expected to achieve a total shrimp output of 780,000 tonnes this year, including 300,000 tonnes of tiger shrimp and 480,000 tonnes of white-leg shrimp.

This year, the local shrimp industry would have many opportunities but also face great exporting challenges.

The hot weather and salinity can impact farming areas, according to the directorate.

To achieve the goal, Truong Dinh Hoe, general secretary of the Viet Nam Association of Seafood Exporters and Producers (VASEP), said enterprises should focus on improving the competitiveness of Viet Nam’s shrimp industry.

However, Vietnamese shrimp products still faced kinds of barriers such as anti-dumping tax and low price of shrimp imported from India. Meanwhile, key markets have strengthened quality control and food safety, including the US, the EU and South Korean markets.

Each year, Viet Nam has still imported 200,000-250,000 units of white-leg shrimp parents, satisfying 90 per cent of the domestic demand.

Meanwhile, price of Vietnamese shrimp is still higher than other countries because the industry has depended on imports of food and medicine for shrimp production.

Many farms have not received investment for infrastructure and technology, especially in extensive farming areas. There are still many small-scale farms lacking capital and investment opportunities.

According to the Directorate of Fisheries, the total area of farming brackish shrimp in 2018 reached more than 736,000 hectares, 3 per cent higher than the previous year, including 632,000 hectares raising tiger prawn and 104,000 hectares rearing white-leg shrimp. Provinces having increased farming areas include Bac Lieu, Kien Giang, Tra Vinh and Soc Trang.

Total output of brackish water shrimp in 2018 reached more than 762,000 tonnes, a year-on-year surge of 6.3 per cent, including 298,000 tonnes of tiger prawn and 464,000 tonnes of white-leg shrimp.

However, Viet Nam’s shrimp industry only achieved export value of $3.6 billion last year, a year-on-year reduction of 7.8 per cent.

The shrimp exports to some major markets reduced in 2018 against the previous year, including mainland China and Hong Kong (down 28 per cent), the EU (down 2.8 per cent), the US (down 3.3 per cent), Japan (down 9.2 per cent) and Taiwan (2.6 per cent). — VNS

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