Having identified its weakness in 2023, entering the first quarter of 2024, Việt Nam''s shrimp industry has undergone a clear change, reflected through increases in exports to major markets.
To further increase the value of shrimp and to have sustainable shrimp industry development, localities, especially Mekong Delta provinces, need to pay attention to developing high-quality seed sources to have proactive production, reduce production cost and limit diseases.
Since the UKVFTA came into force, tariff duties on frozen shrimp products exported to the UK have been reduced to zero per cent. That has offered Vietnamese exporters a competitive advantage compared to other rivals such as Thailand, Malaysia, Indonesia, Philippines, India, and Brazil which had yet...
The Viet Nam Association of Seafood Exporters and Producers (VASEP) expects that shrimp exports will reach a turnover of US$5.6 billion by 2025 with an annual growth of 9 per cent.
Vietnamese shrimp exports have taken a turn for the better as revenue reached around US$367 million in November, up 16 per cent compared to the same period last year.
Despite the difficulties caused by the Covid-19 pandemic, shrimp exports by Cuu Long (Mekong) Delta provinces have been strong this year thanks to efforts made by both authorities and businesses.
Viet Nam’s shrimp exports are forecast to reach US$3.7 billion this year, posting an year-on-year increase of 9.8 per cent, fuelled by the EVFTA which facilitated export to the EU markets.
Shrimp exports to South Korea are likely to increase by 5 per cent this year due to steady demand, high export prices and tariff incentives under a bilateral free trade deal.
Shrimp exports to the US have been unaffected by the Covid-19 outbreak, and are expected to increase by 20 per cent this year, according to the Viet Nam Association of Seafood Exporters and Producers.