Cà Mau will spend VNĐ20 trillion (US$785.5 million) promoting the shrimp industry with a view to making the province the biggest shrimp raising hub in the Cửu Long (Mekong) River Delta region by 2030.
With available potential and advantages, the Mekong Delta province of Bạc Liêu has been developing many shrimp farming models applying high technology, being environmentally friendly, enhancing the value chain and becoming a leading locality in the country in this field.
Vietshrimp 2024 is jointly organised by the Directorate of Fisheries, Việt Nam Fisheries Association (VINAFIS), Việt Nam Fisheries Magazine and the Department of Agriculture and Rural Development of Cà Mau Province.
In the beginning of June, shrimp selling prices plummeted by about 40 per cent compared to April. Meanwhile, the cost of shrimp seed and feed increased. Those have caused shrimp farmers in the Mekong Delta to suffer heavy losses.
Shrimp prices in the world market have gradually decreased since the end of 2022. For instance, at the end of February 2023, the price of Indian shrimp was at VND110,000 (US$4.53) per kilo.
On display are breeds, feed, medicine, vaccine products and technologies serving the shrimp industry. Exhibitors are operating in the fields related to the aquaculture sector in general and the shrimp industry in particular.
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.
Việt Nam''s shrimp industry expects to increase exports this year end because of a rise in demand, according to the Việt Nam Association Seafood Exporters and Producers (VASEP).
The domestic shrimp industry has not faced a great impact from the novel coronavirus (COVID-19) pandemic because now this industry is under production and Viet Nam will enter its shrimp harvesting crop in August.
The EU is a potential market for Viet Nam''s shrimp industry next year as the shrimp production of this bloc has not met demand of the largest shrimp market in the world.
Viet Nam’s shrimp industry is expected to gain an export value of US$4.8 billion in 2018 due to the many advantages of exports promotion, experts said.
The Mekong Delta province of Bac Lieu has begun plans to expand its shrimp aquaculture industry, with the kick off earlier this year of construction of the Bac Lieu high-tech agricultural zone in Hiep Thanh commune in Bac Lieu city.
Viet Nam’s shrimp industry will become a key economic sector, if the national action plan for the development of the shrimp industry by 2025 that was approved by the Prime Minister meets its targets.