AsemconnectVietnam - Vietnam’s shrimp exports earned $1.3 billion in the first five months of 2024, a year-on-year rise of 7%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Of which, the export of lobsters made a breakthrough increase of nearly 70 times year-on-year to reach over $106 million.
Vietnamese shrimps were shipped to 103 countries and territories in the world.
China exceeded the US to become the biggest shrimp importer of Vietnam in the five-month period, with a total value of $260 million, up 21% year-on-year. Meanwhile, shrimp export revenue to the US reached $229 million, up 1% compared to the same period last year.
Japan ranked the third with $183 million, down 4% year-on-year.
The EU was the fourth, with a total turnover of $165 million, surging 8% year-on-year.
Mekong Delta's eco shrimp farming meets global standards
In Ca Mau, Vietnam's southernmost province, thousands of households practicing ecological shrimp farming under mangrove canopies are now certified to meet international standards.
Ung Van Dien, 46, in Ngoc Hien District is one of the successful ecological shrimp farmers whose market output is being supported by local businesses, which means they signed contracts with Dien to buy the shrimps after harvesting. With six hectares of shrimp farm surrounded by the mangrove forest and covered by its canopy, he earns a profit of over VND400 million (US$15,700) each year.
Currently, Ca Mau has nearly 40,000 hectares of ecological shrimp farming under its mangrove forest canopy. The largest concentration is in Ngoc Hien District, accounting for nearly 23,000 hectares. Of these figures, about 20,000 hectares of the mentioned shrimp zones are certified according to international standards.
Ca Mau, Vietnam's southernmost province, is the only in the country with three sides bordering the sea. It is the locality with the second longest coastline, of 253 km, after Khanh Hoa's.
Vietnam is shifting from fishing natural fish to conservation of aquatic marine resources
Deputy Prime Minister Tran Luu Quang has just signed the Decision No. 389/QD-TTg on behalf of the Prime Minister, approving the Plan for the Protection and Exploitation of Aquatic Resources for the period 2021-2030 with a vision to 2050. According to the plan, by 2030, Vietnam will become a country with a sustainable and modern fishery sector, with a maximum of 83,600 fishing vessels. The plan sets out the requirement to restructure the fishing industry in inland waters and marine areas, and to reallocate the space for conservation, protection, and exploitation of aquatic resources in line with the potential of aquatic resources and environmental protection. In the coming years, 27 marine conservation areas will be established and operated effectively nationwide, with a total protected marine area of approximately 463,587 hectares. To implement the plan, synchronous solutions will be carried out including reviewing, amending, supplementing, and building new mechanisms, policies, investment and incentives, attracting investment in infrastructure for the protection and development of aquatic resources, science and technology while disseminating propaganda to raise people’s awareness, training, and international cooperation.
Vietnam has a coastline of over 3,200 km and a vast fishing ground; moreover, the Southeast Asian country is rich in aquatic resources. The marine environment and river system create a diverse ecosystem with brackish, fresh and saltwater areas suitable for many species of aquatic products of high commercial value, which are an important source of raw materials for the seafood processing industry.
Shrimp exports reached 1.3 billion USD in the first 5 months 
In the first 5 months of this year, Vietnamese businesses have exported shrimp to 103 markets, earning 1.3 billion USD, an increase of 7% over the same period last year. The slight increase in export value compared to the same period is a positive sign, however, the shrimp industry continues to face many challenges as the world economy has not shown signs of recovery, inflation remains high, and the war has not ended.
In the first 5 months of this year, Vietnam's shrimp exports to the US reached 229 million USD, up 1% from the same period last year. Shrimp exports to the US only increased sharply in January, while decreasing sharply in February, April and May.
In this market, inflation remains high, with high housing, gasoline, and gas costs. In addition, freight rates have increased sharply by 40% since May due to the war in the Middle East and China's hoarding of empty containers in anticipation of new tariffs on exports to the US. Vietnamese shrimp also faces strong price competition with shrimp from Ecuador, India, and Indonesia in the US market.
US shrimp import demand from Vietnam may increase slightly in the third quarter of this year as importers increase purchases to meet end-of-year holiday demand.
Vietnam exported 165 million USD worth of shrimp to Europe in the first five months of this year, an increase of 8% over the same period previous year. After declining in February and March, shrimp exports to the EU increased in April and May.
Due to several factors, including the protracted conflict between Russia and Ukraine, the weakening of the euro against the US dollar, detours that resulted in a 60% increase in freight costs, and China's hoarding of empty containers for export to the US, shrimp consumption in the EU market was extremely slow in the first quarter.
In addition, Vietnamese shrimp will face stronger competition from rival suppliers in this market such as India and Ecuador as these two sources face difficulties with high tariffs in the US market and will therefore reduce prices to increase exports to Europe.
T.Huong
Source: Vitic