Having identified its weakness in 2023, entering the first quarter of 2024, Vietnam's shrimp industry has undergone a clear change, reflected through increases in exports to major markets.

With available potential and advantages, the Mekong Delta province of Bạc Liêu has been developing many shrimp farming models applying high technology, being environmentally friendly, enhancing the value chain and becoming a leading locality in the country in this field.

The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.

(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) has just announced that in March 2024, finished shrimp output reached 2,000 tons and finished shrimp consumption reached 1,693 tons, an increase of 74%, and 42% over the same period in 2023, respectively.

(vasep.com.vn) Vietnam's shrimp exports in the first 2 months of this year reached 415 million USD, up 24% over the same period last year. Exports to China and the US markets recorded growth of 143% and 26%, respectively, over the same period.

(seafood.vasep.com.vn) As of February 15, 2024, Vietnamese shrimp exports to Australia reached more than 23 million USD, an increase of 48% over the same period in 2023. Australia is the fifth-largest single market in terms of imports. Vietnamese shrimp account for 7.5% of the total value of Vietnamese shrimp exports to markets.

(seafood.vasep.com.vn) In the first two months of 2024, seafood exports increased by 13% over the same period last year, mainly thanks to a breakthrough increase of 64% in January. Many main products had positive growth in the first 2 months. Last month, white leg shrimp increased by 18%, tuna increased by 21%, pangasius increased by 6.5%, and giant tiger prawn increased by 9%. Notably, lobster

(seafood.vasep.com.vn) This year's net profit of Sao Ta Food Joint Stock Company (stock HS code FMC) is forecast to increase by more than 25% thanks to increased raw material autonomy and a recovery in consumption demand in a series of major markets

(seafood.vasep.com.vn) Vietnam shrimp exports in January 2024 reached 242 million USD, an increase of 71% over the same period in 2023. Except that in 2023, the Lunar New Year falls in January, if compared to the same period in 2023, shrimp export sales in January 2024 were still a positive signal to start shrimp exports in 2024. Raw shrimp prices in some localities also tended to increase in the first month of the year

(seafood.vasep.com.vn) Growmax Corporation will invest in a shrimp farming complex, feed mill, shrimp seed production, export... in Dong Hai district, Bac Lieu province.

(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) plans to continue to strengthen the development of the Japanese market, maintain existing markets, and focus on learning step by step to penetrate the Chinese market based on promoting your strengths in 2024.

Despite its availability in over 150 countries, Vietnam's shrimp industry is grappling with fierce competition from global counterparts, prompting the proactive application of technology and strategic planning as the sector is making endeavors to carve out its unique path forward.

(seafood.vasep.com.vn) By the end of 2023, Vietnam's shrimp exports reached 3.4 billion USD, down 21% compared to 2022. The decrease in export figures reflects a year of challenges for Vietnam's shrimp industry.

(seafood.vasep.com.vn) As of November 2023, Vietnamese shrimp exports to China and Hong Kong reached 569 million USD, down a proportion of 8% over the same period last year

(seafood.vasep.com.vn) Agro-forestry-fishery export turnover in 2023 is estimated to reach over 53 billion USD, of which shrimp exports are about 3.6 billion USD.