A display booth at theVietShrimp fair. — VNA/VNS Photo

The fifth Vietshrimp Aquaculture International Fair 2024 (Vietshrimp 2024) officially opened in the southernmost province of Cà Mau on Wednesday.

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.

Speaking at the ceremony, Deputy Minister of Agriculture and Rural Development Phùng Đức Tiến said that currently the country's economy was integrating more and more deeply into the world and Vietnamese agricultural products were presented in more than 200 countries and territories and seafood products, were in nearly 170 countries and territories with shrimp dominating more than 100 markets.

Vietshrimp not only contributes to promoting and introducing the potential, strengths, image and brand of Vietnamese shrimp but was also an opportunity for authorities from central to the local level, experts, scientists, businesses, cooperatives and farmers to exchange and update the situation and new and advanced scientific and technical advances; connect businesses to co-operate in the development and market expansion; connect production and consumption along the value chain and at the same time, discuss measures to overcome limitations and shortcomings of the shrimp industry, he said.

Tiến said: “We believe that Vietshrimp 2024 will be a bridge between the business community, partners and customers; is a forum for the State, scientists, businesses and farmers to join hands to find solutions to develop the shrimp industry effectively and sustainably; maintain position in the world market, connect all sectors with the world; at the same time, learning experiences, advances and techniques of advanced countries to upgrade the Vietnamese shrimp industry in the future."

Nguyễn Việt Thắng, Chairman of the Việt Nam Fisheries Association, said that for many years, shrimp had always been the mainstay of the seafood industry and Vietnamese agriculture.

It brings nearly US$4 billion each year to the country and contributes about 45 – 50 per cent of the total seafood export value.

Việt Nam is one of the largest shrimp-producing countries in the world and is in the top four in exports along Ecuador, India and Indonesia.

The country's brackish water shrimp farming area reached 737,000 hectares last year, with an output of about 1.12 million tonnes. Although basic farming areas have not increased, total shrimp production increased by 5.5 per cent compared to 2022.

However, difficulties have caused shrimp export turnover to decline last year, earning only $3.45 billion, down 19.8 per cent year-on-year.

Entering 2024, the shrimp industry will continue to face many difficulties and challenges. According to analysts, currently, domestic commercial shrimp prices have improved, however, the shrimp industry still faces many difficulties due to unusual weather conditions, high input material prices, and huge potential risk of disease.

At the same time, inflation in many countries has decreased but not significantly and logistics costs are still large, especially the tense situation in the Red Sea area, while the market signal is bright but not certain, farmers are still cautious in reproduction.

With the theme “Accompanying shrimp farmers”, the VietShrimp 2024 organising committee hoped this would be a big forum for the State, scientists, businesses and farmers to sit down and find the most effective solutions, bringing Vietnamese shrimp industry back to the growth trajectory, while realising the goal of sustainable development for the country’s shrimp," said Thắng.

Lê Văn Sử, Vice Chairman of the Cà Mau Provincial People's Committee said shrimp has played a key role in Cà Mau's agricultural industry.

The province had about 278,000 ha of shrimp farming area last year, producing 231,000 tonnes, and earning over $1 billion from shrimp export, accounting for 40 per cent of the total shrimp farming area in Việt Nam, 22 per cent of the country’s output and nearly 30 per cent of the country's shrimp export value.

Sử acknowledged the difficulties and limitations the province’s shrimp industry faces, noting that the Vietshrimp 2024 would bring opportunities for local authorities and farmers to learn and improve shrimp production, processing and exports in the coming time.

VietShrimp 2024 has about 200 booths of 150 domestic and international businesses and organisations operating in the seafood and in particular, the shrimp industry. — VNS