Shrimp exports expected to reach $5 billion by 2020
Friday, March 24,2017
AsemconnectVietnam - The shrimp exports is expected to reach between $4.5 – 5 billion by 2020, with an annual increase of between 9.5 – 12 percent.
These targets are set in the national action plan on developing the shrimp sector to 2025 to be submitted to the prime minister, according to the Ministry of Agriculture and Rural Development.
By 2025, the sector aims to earn $10 billion and record a year-on-year increase of 12 – 14 percent.
It also plans to develop hi-tech shrimp production on large scale, with a total brackish-water shrimp raising area reaching 750,000 hectares, producing 1.1 million tonnes.
Vietnam is the world’s third largest shrimp exporter and the world’s leading exporter of giant tiger shrimp.
Shrimp export accounted for nearly 50 percent of the total seafood export with the highest value of nearly $4 billion achieved in 2014.
The figure was $3.1 billion in 2016 and is expected to hit $3.4 billion in 2017.
Source: Intellasia.net
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