Vietnamplus

The Southernmost province of Ca Mau is working hard to support local seafood businesses and achieve the year’s seafood export target of 1.2 billion USD.

Vietnam's shrimp industry expects to increase exports this year end because of a rise in demand, according to the Vietnam Association Seafood Exporters and Producers (VASEP).

Shrimp exports and prices in the southernmost province of Ca Mau re showing signs of recovery after being heavily affected by the COVID-19 pandemic.

Vietnam’s pushback of the COVID-19 pandemic has helped shrimp exporters raise their competitiveness on the world market, overtaking competitors such as India and Ecuador, which are still struggling with the outbreak and not yet able to return to normal production.

Vietnam’s brackish-water shrimp industry is confident of achieving its export target of more than 3.5 billion USD this year despite the host of difficulties posed by the COVID-19 pandemic, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said.

Vietnam’s shrimp industry has found itself surrounded by difficulties since the beginning of this year due to COVID-19 but many exporters are now looking forward to a comeback in the second half after the pandemic is brought under control globally.

The domestic shrimp industry has not faced a great impact from the novel coronavirus-caused acute respiratory disease (COVID-19) because now this industry is under production and Vietnam will enter its shrimp harvesting crop in August.

The Mekong Delta province of Ca Mau has set a target to earn 1.2 billion USD from exports in 2020.

The Mekong Delta province of Ca Mau has set a target to earn 1.2 billion USD from exports in 2020.

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.

Vietnam’s shrimp exports continued to shrink over the last 11 months in the face of fierce competition from other major exporters. But it is expected to make its way back next year with the EU-Vietnam trade deal coming into force.

The Mekong Delta province of Bac Lieu plans to expand its efficient and sustainable super-intensive shrimp farming and shrimp-rice farming models.

The Mekong Delta city of Can Tho will for the first time host the VietShrimp, the fair on technology in the shrimp industry of Vietnam, on March 25-27 next year.

Aquatic products are subject to a lot of incentives in the European Union – Vietnam Free Trade Agreement (EVFTA), according to experts.

Although the US Department of Commerce (DOC)’s announcement of zero-percent antidumping tariffs on 31 Vietnamese shrimp exporters is just a preliminary decision and the official ruling is still to come, the transparency of Vietnamese businesses has been proven, an official has said.

The Mekong Delta province of Kien Giang will promote the application of advanced technologies in shrimp farming on large scale under its master plan on shrimp development until 2025.

Rising production costs are harming the competitiveness of Vietnamese seafood products, according to experts. These include the prices of feed, material input, electricity and labour.

Vietnam now ranks fourth globally, first in Southeast Asia and second in Asia in terms of exports of seafood, and its products are now available in over 170 countries and territories worldwide.

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 fisheries sector is aiming at 10 billion USD in the export of aquatic products in 2019, a year-on-year rise of 11 percent, according to the Vietnam Association of Seafood Exporters and Producers.