Shrimp exports well on the way to recovery

Vietnamese shrimp exports have taken a turn for the better as revenue reached around US$367 million in November, up 16 per cent compared to the same period last year.

Processing shrimps for export. Shrimp exports are picking up again, and are expected to rake in US$3.9 billion this year, representing a year-on-year increase of 4 per cent. VNA/VNS Photo

Yearly shrimp exports are expected to hit nearly US$3.9 billion this year, up 4 per cent against 2020. The figures are forecast to go up to US$4.3 billion in 2022.   

According to Phùng Đức Tiến, Deputy Minister of Agriculture and Rural Development, shrimp producers have successfully turned favourable conditions on the market and rising shrimp prices to their advantage to swiftly recover after long lockdowns.

“Despite difficulties caused by climate change and the COVID-19 pandemic, Vietnamese agricultural and shrimp industry will definitely come out well, reaching an output of 980,000 tons and exports of US$3.9-4.1 billion in 2022”, he added.  

The area of brackish water shrimp farms expanded by 0.5 per cent from 2020 to around 740,000ha this year, including 630,000ha of black tiger shrimp and 110,000ha of white-leg shrimp, despite obstacles in the way due to the COVID-19 pandemic.

The US remained Việt Nam’s largest shrimp importer, purchasing 28 per cent of total shrimp exports during the period. Japan came in second with 15 per cent. Shrimp exports to the EU have bounced back since October. Việt Nam is currently a major supplier to Germany, Netherlands and Belgium.

The deputy minister stressed that Việt Nam has signed 16 new-generation free trade agreements. These agreements are great opportunities to improve the capability in chain-based production, which allows the tracing of every stage in the production chain, from breeding stock to processing for export.

Additionally, productivity and quality are key to shrimp products’ competitive enhancement. Relevant agencies and localities need to pay closer attention to input, especially regarding breeding stock and infrastructure.