Shrimp exports this year are estimated to reach 4 billion USD

The information was shared by Dr. Nguyen Viet Thang, Chairman of the Vietnam Fisheries Association, at the opening ceremony of the International Exhibition on Vietnam Shrimp Industry Technology on March 20.

According to Dr. Thang, shrimp has remained a key product of Vietnam’s fisheries sector for many years. Each year, this commodity generates nearly 4 billion USD for Vietnam and accounts for approximately 45–50% of the country’s total seafood export value. Vietnam is currently one of the largest shrimp producers in the world and ranks among the top four shrimp exporters globally, alongside Ecuador, India, and Indonesia.

In 2023, the country’s brackish water shrimp farming area reached 737,000 hectares, with production exceeding 1.1 million tons. Although the farming area did not increase significantly, total shrimp output rose by 5.5% compared to 2022. However, challenges from multiple fronts caused shrimp export turnover in 2023 to reach only 3.45 billion USD, down nearly 20% compared to 2022.

  

 

The Chairman of the Vietnam Fisheries Association stated that this year, difficulties and challenges for the shrimp industry have not yet ended. Weather conditions remain unpredictable, input material prices are high, and the risk of disease outbreaks is significant. In addition, although inflation in many countries has eased, it remains considerable; logistics costs are high, especially amid tensions in the Red Sea region. As a result, farmers remain cautious about reinvestment and production expansion.

However, this situation may only persist in the short term, as industry forecasts remain very positive, especially in the second half of the year. Shrimp exports are expected to recover and increase by 10–15% compared to last year, potentially exceeding 4 billion USD in revenue.

“Accompanying Shrimp Farmers” is the theme of the 5th International Exhibition on Vietnam Shrimp Industry Technology in 2024 (VietShrimp 2024). The organizers hope the event will serve as a major forum where policymakers, scientists, businesses, and farmers can collaborate to find effective solutions to return Vietnam’s shrimp industry to a growth trajectory while achieving sustainable development goals.

VietShrimp 2024 takes place from March 20–22 at the Ca Mau Provincial Convention Center.

Source: VnExpress

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