Vietnam’s shrimp exports forecast to reach 3.8 billion USD in 2020
Shrimp exports are expected to hit 3.8 billion USD, instead of the previous forecast of 3.5 billion USD, thanks to positive signs amid the COVID-19 outbreak, according to the Vietnam Association Seafood Exporters and Producers (VASEP).
Hanoi (VNA) – Shrimp exports are expected to hit 3.8 billion USD,instead of the previous forecast of 3.5 billion USD, thanks to positive signsamid the COVID-19 outbreak, according to the Vietnam Association SeafoodExporters and Producers (VASEP).
Despite the pandemic, Vietnam’s totalshrimp export value in the first three months rose by 1.8 percent year-on-yearto 628.6 million USD. Some key export markets reported significant growth,especially Japan and the US.
Japan jumped to first place in the fivelargest export markets, accounting for 21 percent of Vietnam’s total shrimpexport value after the export value to this market in February surged sharplyby 63 percent year-on-year.
In this period, the country earned 132million USD from shrimp exports to Japan, 8.4 percent higher than the sameperiod of last year.
Meanwhile, the US became the second largestexport market for Vietnamese shrimp in the first quarter because of higherdemand for essential food, including shrimp, during the pandemic, theassociation reported.
In the first three months Vietnam's shrimpexport value to the US market reached 115.5 million USD, a year-on-year surgeof 18.2 percent.
Truong Dinh Hoe, VASEP Secretary General,said that the Vietnamese Government’s effective controlling of the disease isopening up opportunities for shrimp exports.
According to the association, although itis still unclear when the pandemic ends, there is high demand for shrimp on thedomestic and global markets because it is one essential food. Therefore,Vietnam needs to ensure shrimp supply for the home and abroad markets now andin the future.
Shrimp output in many key producers in theworld such as India and Ecuador is estimated to reduce due to disease of shrimpand bad weather while the shrimp demand on the global market is forecast toincrease sharply after the pandemic./
Vietnam gained shrimp export growth to some key export markets in the first quarter of this year, especially Japan and the US, despite the COVID-19 pandemic.
Fisheries exports in the first four months of this year fell 10 percent year-on-year to 2.18 billion USD, according to the Department of Farm Produce Processing and Market Development at the Ministry of Agriculture and Rural Development.
Vietnam’s brackish-water shrimp industry is confident of achieving its export target of more than 3.5 billion USD this year despite the host of difficulties posed by the COVID-19 pandemic, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said.
Vietnam’s seafood exports will continue to see reductions in next few months due to the pandemic, with a slight year-on-year decrease of 5 percent to 2 billion USD in the second quarter, according to the Vietnam Association Seafood Exporters and Producers (VASEP).
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Shrimp processing for export (Source: VNA) 
