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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 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.

(seafood.vasep.com.vn) Since the beginning of the second quarter to August this year, Vietnam’s shrimp exports remained the downward trend in value over the same period in 2017. Specifically, in July, exports fell by 20.3% over the same period last year; sales to most of major importing markets fell sharply.

(seafood.vasep.com.vn) Vietnam’s shrimp exports in QII/2018 reached over US$893 million, down 4.9% due to fluctuations in the domestic and global shrimp prices. However, thanks to the growth of 20% in QI, the figure in the first half of this year slightly increased by 5.1% to see US$1.6 billion. With higher import demand in Apr-Jun this year and steady shrimp prices, Vietnam’s shrimp sales this year expected to total US$4 billion.

(vasep.com.vn) After 10 years implementing the Resolution No 26-NQ/TW on agriculture, rural areas, farmers (2008 - 2018), Vietnam seafood export turnover doubled. In particular, shrimp exports accounted for the largest proportion and strongest and the most stable growth. After 10 years, shrimp export turnover increased nearly 2.5 times from $1.6 billion to nearly $3.9 billion, with an average annual growth of 9%. Shrimp exports account for a increasing share of total seafood exports: from 36% to over 50%.

(seafood.vasep.com.vn) Due to natural conditions, most Middle Eastern countries do not produce agricultural products, including seafood, so there is a great demand for shrimp and catfish products, canned tuna, sardines, mackerel and dried fish. 

(seafood.vasep.com.vn) In the first two months of 2018, Vietnam’s pangasius exports to the Polish market increased by 17 times over the same period last year. This was considered as a notable importing market of Vietnam in the EU in the first two months of this year.

(seafood.vasep.com.vn) After the good growth in 2017, Vietnam’s shrimp exports in 2018 continued to go up. In January 2018, Vietnam exported shrimp to 49 markets with the export turnover of US$264.8 million, up 33.2% over the same period in 2017.

The Ministry of Agriculture and Rural Development has asked People’s Committees of cities and provinces with large areas of shrimp farms to employ different solutions in order to reach targets set in the national action plan for the development of the shrimp industry through 2025.

Seafood Expo Asia is a trade event where buyers and suppliers of seafood from around the world come together to network and conduct business in the lucrative Asia markets. The next event will be 11-13 September 2023 at the Sands Expo and Convention Centre in Singapore. The exposition is produced by Diversified Communications.