Despite huge challenges, the seafood sector in 2022 posted a new record in export value of 11 billion USD, up 24% year-on-year and 22% higher than the year’s target of 9 billion USD.
Vietnam’s export of aquatic products in July showed positive signs with an increase of 9 percent year-on-year, particularly with exports of shrimp and other products rising, except for pangasius.
Intensive processing has served as an effective tool for Vietnamese shrimp exporters to improve their competitive capacity in the context of a steep increase in the global supply which brought down the price and demand for shrimp in major markets.
Tra fish exports are likely to surpass 2 bln USD for the first time this year, presenting an opportunity for Vietnam’s aquatic product exports to realise or even exceed its yearly goal of 9 bln USD.
The southernmost province of Ca Mau is striving to earn 2.5 billion USD from shrimp exports, and become the largest shrimp breeding hub in the country by 2025.
The Vietnam Association of Seafood Exporters and Processors (VASEP) has projected shrimp exports to continue gathering momentum this year, particularly in the EU and China.
Vietnam gained its highest ever seafood export value of 8.32 billion USD in 2017, a year-on-year increase of 18 percent, according to the Ministry of Agriculture and Rural Development.
The Vietnam Association of Seafood Exporters and Producers (VASEP) held a seminar on world shrimp demand and Vietnam’s supply capacity in Ho Chi Minh City on August 29.
The country’s seafood exports are expected to reach 7 billion USD this year, a year-on-year increase of 5.5 percent, according to the Vietnam Association of Seafood Producers and Exporters (Vasep).
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