A conference was held in the Mekong Delta province of Soc Trang on March 23 to discuss how to realize the 10 billion USD shrimp export target by 2025 as requested by the Prime Minister.

The Ministry of Agriculture and Rural Development is collecting opinions to finalise a national action plan for shrimp development through 2025.

The Vietnamese Government has requested the Australian side re-examine its ban on importing Vietnamese shrimp as it had caused serious impacts on local shrimp exporters, said Deputy Minister of Industry and Trade.

(seafood.vasep.com.vn) After the recovery in 2016, Vietnam shrimp exports in the early 2017 climbed down. The sales in Jan 2017 hit US$198.7 million; down 12.6% year on year.

(seafood.vasep.com.vn) According to Sao Ta Foods Joint Stock Company (Fimex VN; HOSE: FMC) based in Soc Trang province (Vietnam), in Jan 2017, the company processed 680 MT of finished shrimp products in all varieties.

Prices of raw shrimp have been increasing rapidly in the Mekong Delta since early February when shrimp processors returned to work soon after Tet (Lunar New Year), according to the Ministry of Agriculture and Rural Development.

The U.S. remains to be the largest market of Vietnamese shrimp, making up 22.5% of total shrimp exports in 2016. Vietnam shrimp exports to the U.S. in 2016 reached US$708.8 million; an increase of 7.9% compared to 2015. Shrimp sales to the market reported the highest growth of 30.6% in QI/2016; sales in QII and QIII reported lower growth of 13.8% and 15.2%, respectively.

Vietnam's $10 billion export target for shrimp is ambitious but achievable.

Vietnam’s shrimp has experienced many highs and lows in the last 10 years, but it may see more stable growth in the future. Recently, PM Nguyen Xuan Phuc decided that Vietnam would aim to become a major shrimp producer in the world.

(seafood.vasep.com.vn) Vietnam’s shrimp exports in 2016 reversed the downward trend of 2015. After the negative growth of 25.3% in 2015, shrimp exports reported the positive growth of 0.1 – 12.3% throughout the year of 2016 (except for the negative growth in May 2016). As forecast of VASEP, in 2016, total shrimp export value of Vietnam reached US$3.15 billion; up 6.7% from 2015. In which, whiteleg shrimp accounted for 62%, black tiger shrimp with 29.5% and marine shrimp with 8.3%.

Minister of Industry and Trade Tran Tuan Anh has just called on the Australian Government to soon lift its ban on prawn and uncooked shelled shrimp imports, saying that it poses negative impacts on Vietnam’s shrimp breeding and processing sector

The Australian Department of Agriculture and Water Resources on February 6 announced a relaxation of the ban on importing shrimp, cooked or uncooked prawn meat products.

(seafood.vasep.com.vn) Australia is a potential market of Vietnamese shrimp because enterprises are focusing more on the market thanks its higher import demand. Vietnam’shrimp exports to Australia reached more than US$100 million each year. In 2014, Australia imported over US$150 million of shrimp from Vietnam.

Prime Minister Nguyen Xuan Phuc asked the shrimp industry to strive for an export value of 10 billion USD by 2025 during a conference on shrimp production held in the southernmost province of Ca Mau on February 6.

(seafood.vasep.com.vn) Over the past decade, Canada was always put into the list of top 10 leading shrimp importers of Vietnam. Despite the modest export turnover, Canada is considered to be a potential market for Vietnam shrimp thanks to its location close to America and its high living standards. Demand for seafood in Canada tend to be on the increase.