_{Shrimp import demand is expected to be more positive from the second quarter of 2023}

Vietnam's shrimp exports in 2023 will face challenges from inflation, the global economic downturn affecting the consumption of major markets. Besides, Vietnamese shrimp must compete directly with Ecuador and India in terms of price. Import demand is expected to recover from the second quarter thanks to the lower price trend.

Enterprises need to optimize costs, focus on developing added value, improve product quality, redirect the export of country-specific products such as shrimp-forest, shrimp-rice, and actively change products structure to meet the needs of each market segment, prepare raw materials and production capacity to keep pace when shrimp demand in the world market recovers.

In 2022, Vietnam's brackish water shrimp farming area reached about 747,000 hectares with an output of more than 1 million tons, an increase of 8.5% compared to 2021. In 2023, Vietnam's shrimp industry aims to reach 750,000 area ha with an output of more than 1 million tons of shrimp of all kinds and strives for an export turnover of approximately $4.3 billion.

Vietnam's shrimp industry still faces many difficulties and challenges in both input and output related to the supply of raw materials from seed quality, disease control, the ratio of area and production of shrimp farming qualified by GAP and organic certification standards is still low. The production cost of shrimp is still much higher than that of Ecuador and India. To achieve the set goals, the shrimp industry needs the support of the Government and ministries and sectors and the active participation of stakeholders in the shrimp value chain.