Experts held that in order to maintain the export momentum, which has been maintained since late 2024, and effectively seize new market opportunities, the shrimp industry must proactively enhance production conditions and standardise processes from production to trade.
The shrimp sector should be developed in value chain so as to gain competitive edge amidst prolonged challenges like global economic recession, tensions in the Red Sea, and anti-dumping measures from the US, according to insiders.
Vietnam’s aquatic product exports will experience only a slight recovery in the first half of this year due to market volatility and a host of challenges to the global economy, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The southernmost provinces of Ca Mau and Bac Lieu have recently emerged as Vietnam’s largest shrimp exporters, helping Vietnamese shrimp secure a foothold on the world seafood market.
Export revenue of aquatic products in August was estimated at 833 million USD, bringing the result for the first eight months of this year to 5.52 billion USD, a drop of 1.2 percent over the same period last year.
Vietnam’s first shrimp online transaction floor made its first public appearance in the Mekong Delta city of Can Tho on April 5, helping farmers get the highest possible prices for their product and updates on the cultivation and trade.
Vietnam exported 7.24 billion USD worth of aquatic products in the past 10 months, up 6.2 percent year-on-year, reported the Agro Processing Market Development Authority (Agrotrade) under the Ministry of Agriculture and Rural Development.
Intensive processing has served as an effective tool for Vietnamese shrimp exporters to improve their competitive capacity in the context of a steep increase in the global supply which brought down the price and demand for shrimp in major markets.
Various challenges face Vietnam’s shrimp exports to the US, as aside from high anti-dumping duties, Vietnamese businesses have to tackle harsh policies the US uses to protect domestic production.
The price of material shrimps is forecast to recover in August and September after suffering drops over the past months, especially in the second quarter of 2018, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Building national trademarks for tra fish and shrimp was the highlight of a conference of the Vietnam Association of Seafood Processors and Exporters (VASEP) held in Ho Chi Minh City on June 12.
The VASEP has requested the US DOC to review the preliminary result of anti-dumping duty administrative review on shrimp products imported from Vietnam in the 12th period of review (POR 12).
The Vietnam Association of Seafood Exporters and Processors (VASEP) has projected shrimp exports to continue gathering momentum this year, particularly in the EU and China.
Vietnam has so far this year exported 243.2 million USD worth of shrimp to the Republic of Korea (RoK), a surge of 29.8 percent year on year, reported the Vietnam Association of Seafood Exporters and Producers.
Vietnam’s shrimp exports to the EU market reached 483.6 million USD in the first eight months of this year, a rise of 30 percent over the same period last year, making the EU the top market of Vietnamese shrimp, the place which was earlier held by Japan.
The US has announced its decision to adjust antidumping duty on Vietnamese shrimp exported to the US between February 1, 2013 and January 31, 2014 from 1.16 percent to 1.42 percent.
