Viet Nam targets $4.2b in shrimp export value this year
Friday, March 15,2019AsemconnectVietnam - Viet Nam will target at US$4.2 billion in shrimp export value this year, higher than $3.6 billion in 2018, according to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD).
This year, the local shrimp industry would have many opportunities but also face great exporting challenges.
However, Vietnamese shrimp products still faced kinds of barriers such as anti-dumping tax and low price of shrimp imported from India. Meanwhile, key markets have strengthened quality control and food safety, including the US, the EU and South Korean markets.
Meanwhile, price of Vietnamese shrimp is still higher than other countries because the industry has depended on imports of food and medicine for shrimp production.
According to the Directorate of Fisheries, the total area of farming brackish shrimp in 2018 reached more than 736,000 hectares, 3 per cent higher than the previous year, including 632,000 hectares raising tiger prawn and 104,000 hectares rearing white-leg shrimp. Provinces having increased farming areas include Bac Lieu, Kien Giang, Tra Vinh and Soc Trang.
However, Viet Nam’s shrimp industry only achieved export value of $3.6 billion last year, a year-on-year reduction of 7.8 per cent.
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