The Vietnam Association of Seafood Exporters and Processors (VASEP)forecasts shrimp export revenues of 3.8 billion USD this year ascompared to 3 billion USD in 2013.

As of October, shrimp exports were worth 3.25 billion USD, a year-on-year increase of 42.3 percent.

Accordingto the Ministry of Agriculture and Rural Development, 2014 will be abig year for Vietnam's shrimp farming industry. Already 569,000 tonnesof shrimp have been harvested, and output for the full year is expectedto shoot up by 20.4 percent to 660,000 tonnes.

Speaking at aconference on shrimp farming in the Mekong province of Ben Tre onNovember 4, Deputy Minister of Agriculture and Rural Development Vu VanTam said despite the threat posed by diseases and the rising cost ofanimal feed and shrimp fry (for breeding), local farmers, with theirgreat efforts, have managed a bumper shrimp harvest this year.

Therewere 676,000 hectares of shrimp-breeding ponds, an increase of 46.4percent from the same period last year and 33.3 percent higher thantargeted.

The southern region, which accounts for 93 percent of this, accounts for 84.4 percent of Vietnam's shrimp production.

The US has been the biggest buyer of Vietnamese shrimp followed by Japan.

Exportsto the European Union rose sharply in the period, making it one of thebiggest buyers. Exports to Germany were up 63.8 percent and to theNetherlands, 255.9 percent.

Other big growth markets were the Republic of Korea (84.4 percent) and Australia (32.7 percent).

Tosustain the outstanding performance of the shrimp industry, Minister ofAgriculture and Rural Development Cao Duc Phat has instructed theAquaculture General Department to complete the master plan forrestructuring the shrimp farming industry.

In the last two monthsof the year and in 2015 the ministry will co-operate with provinces tointensify the fight against shrimp diseases.-VNA