Facing strong competition from foreign rivals, Vietnam’s shrimp industry is promoting deep processing, generating big profits for both processors and exporters.
To enhance its competitiveness and weather difficulties, Vietnam's shrimp industry is exerting stronger efforts and capitalising on every advantage to develop, according to insiders.
There are now many favourable conditions for shrimp export, including growing prices - an important factor for processors and exporters to swiftly recover after a long social distancing period.
Shrimp exports to Canada as of mid-May had reached 54.7 million USD, a 32 percent rise year-on-year, following steady increases since 2016, aside from a slight dip last year, according to the Vietnam Association of Seafood Exporters and Producers.
Vietnam sets a target of earning 4.1-4.2 billion USD from shrimp exports this year, higher than 3.6 billion USD recorded in 2018, according to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD).
The VASEP has requested the US DOC to review the preliminary result of anti-dumping duty administrative review on shrimp products imported from Vietnam in the 12th period of review (POR 12).
Ca Mau aims to seek more export markets for its shrimp products through intensifying trade promotion activities as an effort to realise the locality’s export target of 1.1 billion USD in 2017.
The Ministry of Agriculture and Rural Development (MARD) has submitted to the Prime Minister a national action plan for the development of the shrimp industry through 2025.