Vietnamplus

The Vietnamese shrimp industry has made it through a tough year of weakening demand and come out afloat, according to business leaders.

Vietnam’s aquatic export revenue to China has grown impressively so far this year, contributing to the success of the fisheries sector.

As one of the leading shrimp raisers in Vietnam, where seafood products are a key export, Viet-Uc Group and AquaEasy have announced an official commercial partnership, applying AI technology in local shrimp ponds.

Vietnamese shrimp producers are accelerating production to reach their export target this year.

The Vietnam Association of Seafood Exporters and Producers (VASEP) has announced that China continues to closely control COVID-19 in imported aquatic products, which is likely to slow Vietnam’s exports to the country in the months to come.

With COVID-19 being brought under control in Vietnam, many local products have started posting exponential export growth, including shrimp.

The Republic of Korea (RoK) is the fifth largest importer of Vietnamese shrimp products, accounting for 10.7 percent of the country’s total shrimp export value.

Vietnam exported over 323 million USD worth of shrimp to the US in the first half of this year, up 29 percent year-on-year.

Vietnam exported 323.3 million USD worth of shrimp to the US in the first half of this year, up 29 percent year-on-year, statistics show.

The southernmost provinces of Ca Mau and Bac Lieu have recently emerged as Vietnam’s largest shrimp exporters, helping Vietnamese shrimp secure a foothold on the world seafood market.

Vietnamese shrimp exporters are hoping for a better year after their shipments fell 5.4 percent year on year to 3.36 billion USD in 2019, according to insiders.

The EU is a potential market for Vietnam's shrimp industry next year because it is the largest shrimp market in the world, while the shrimp production of this bloc has not met its demand, according to domestic seafood experts.

Export revenue of aquatic products in August was estimated at 833 million USD, bringing the result for the first eight months of this year to 5.52 billion USD, a drop of 1.2 percent over the same period last year.

As Vietnam joins more international trade agreements, dealing with and overcoming trade defence measures has become a top priority for Vietnamese businesses.

The US Department of Commerce (DOC) on August 22 released the final results of the 13th period of review (POR 13), officially imposing zero percent tariffs on 31 Vietnamese shrimp exporters.

Shares of shrimp export businesses rose sharply during the trading session on August 22.

Shrimp exports are expected to be strong during the rest of this year because countries tend to import more in the latter months of the year.

Developing globally-recognised Vietnamese shrimp brand is necessary for the agricultural sector to realise a target of 10 billion USD in shrimp export revenue by 2025, according to the insiders.

An alliance was set up on June 17 with a view to promoting sustainable shrimp production, an important sector in Vietnam’s agriculture.

The European Union (EU) was the largest market of Vietnamese shrimp in the first two months of 2019, according to the Vietnam Association of Seafood Entrepreneurs (VASEP).