Cà Mau Takes Action to Safeguard Shrimp Industry Amid U.S. Tariff Pressure
According to local seafood businesses, there is still a substantial amount of goods already produced under existing contracts and others pending production for U.S. buyers.
If the announced tariff of 46% takes effect, it is forecast that exports to the U.S. market will face significant hurdles—possibly becoming unfeasible—leading to a sharp drop in export revenue from the U.S. and affecting the province’s overall shrimp export performance.
Some companies reported that, in recent days, local farmers, upon hearing about the new U.S. tariff, have rushed to harvest their shrimp.
This sudden increase in harvesting has overwhelmed processing plants with raw shrimp, causing some companies to exceed their production and storage capacities. As a result, prices of intensively and super-intensively farmed white-leg shrimp have dropped by 4,000–15,000 VND/kg in recent days.
Cà Mau – Vietnam’s Largest Shrimp Farming Region
As the province with the largest shrimp farming area in Vietnam, and home to numerous industrial-scale and super-intensive shrimp ponds, Cà Mau’s government has called on seafood processing and exporting businesses to continue purchasing raw shrimp from farmers to maintain production stability. Authorities aim to avoid public panic due to falling shrimp prices, which could lead to mass harvesting, production halts, and a breakdown in the province’s shrimp supply chain.
The local government urged businesses to proactively address their challenges and promptly report difficulties to the authorities for timely support. Companies were also encouraged to uphold their responsibility and cooperate with the provincial government to overcome the current obstacles.
Previously, Cà Mau held multiple meetings to gather feedback from businesses and devise solutions to cope with the U.S. countervailing duties on Vietnamese imports, which could reach as high as 46%.
Currently, five seafood export companies in Cà Mau ship products to the U.S., with a total export turnover of USD 12.86 million.
Source: tuoitre.vn
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