(seafood.vasep.com.vn) For many years, Vietnamese shrimp has been the “star” of seafood exports, with the US, EU, Japan, and China as key markets. However, this picture is gradually changing. High tariffs from the US, fierce competition from India and Ecuador, along with rising domestic production costs, are creating serious challenges for Vietnamese shrimp exporters. In this context, bringing shrimp back to the domestic market is not only a temporary solution but could also become a long-term strategy, creating a second pillar alongside exports.

(seafood.vasep.com.vn) In addition to setting a record profit target for this year, Minh Phu Seafood Group (MPC) said it will consider expanding into a number of foreign markets and increasing its market share in the domestic market.

(seafood.vasep.com.vn) Statistics from the customs show that in January 2021, pangasius exports reached nearly 123.6 million USD, up by 21.7% compared to January 2020. Notably, frozen pangasius fillet products reached 115.8 million USD, increasing by 53.5% over the same period last year, staying at the top of 40 seafood export products of Vietnam in January. This is a sign of prosperity at the beginning of 2021 for pangasius after a "declining" year of 2020: only reaching 1.49 billion USD, down by 25.5% compared to 2019.