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.
The US’s decision not to impose anti-dumping tariffs on frozen shrimp products of the Minh Phu Seafood Joint Stock Company exported to the US is objective and fair, said the Vietnamese Ministry of Industry and Trade (MoIT).
The Minh Phu Seafood Joint Stock Company announced on February 17 that US Customs and Border Protection (CBP) has cancelled a decision issued on October 13, 2020 on the imposition of anti-dumping tariffs on the company’s frozen shrimp products exported to the US.
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 seafood companies should work closer with various ministries such as trade and industry and foreign affairs to overcome trade barriers that hinder Vietnamese seafood exports, a top agriculture official said.
Vietnam’s shrimp export value to Canada reached 27.7 million USD by March 2018, a year-on-year increase of 16 percent, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
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).
Vietnam’s shrimp industry will become a key economic sector if the national action plan for the development of the shrimp industry by 2025 meets its targets.
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.
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.
A roundtable dialogue on increasing added value of Vietnamese shrimps took place in the Mekong Delta city of Can Tho on June 21with the participation of more than 100 businesspeople and farmers in the region.
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.
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