Vietnam aims to earn 4.2 billion USD from shrimp exports

Soc Trang (VNA) – 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).

Illustrative image (Source: VNA)

The figure was released at a conference to launch production and business plans for the domestic shrimp industry in 2019 that was held on March 13 by MARD in the Mekong Delta province of Soc Trang, one of large shrimp producers in the country.

The directorate said the industry was expected to achieve a total shrimp output of 780,000 tonnes this year, including 300,000 tonnes of tiger shrimp and 480,000 tonnes of white-leg shrimp.

In 2019, the local shrimp industry would have many opportunities but also face great challenges in export.

The hot weather and salinity can impact farming areas, according to the directorate.

To achieve the goal, Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said enterprises should focus on improving the competitiveness of Vietnam’s shrimp industry.

However, Vietnamese shrimp products still faced various kinds of barriers such as anti-dumping tax and low price of shrimp imported from India. Meanwhile, key markets have strengthened quality control and food safety, including the US, the EU and Republic of Korean markets.

Each year, Vietnam still imports 200,000-250,000 units of white-leg shrimp parents, satisfying 90 percent of the domestic demand.

Meanwhile, the price of Vietnamese shrimp is still higher than other countries because the industry has to depend on imports of food and medicine for shrimp production.

Many farms have not received investment for infrastructure and technology, especially in extensive farming areas. There are still many small-scale farms lacking capital and investment opportunities.

According to the Directorate of Fisheries, the total area of farming brackish shrimp in 2018 reached more than 736,000 hectares, 3 percent higher than the previous year, including 632,000 hectares raising tiger prawn and 104,000 hectares rearing white-leg shrimp. Provinces having increased farming areas include Bac Lieu, Kien Giang, Tra Vinh and Soc Trang.

Total output of brackish water shrimp in 2018 reached more than 762,000 tonnes, a year-on-year surge of 6.3 percent, including 298,000 tonnes of tiger prawn and 464,000 tonnes of white-leg shrimp.

However, Vietnam’s shrimp industry only achieved an export value of 3.6 billion USD last year, a year-on-year reduction of 7.8 percent.

The shrimp exports to some major markets dropped in 2018 against the previous year, including mainland China and Hong Kong (down 28 percent), the EU (down 2.8 percent), the US (down 3.3 percent), Japan (down 9.2 percent) and Taiwan (2.6 percent)