The plan, according to the ministry’s General Department of Fishery, looks to turn the shrimp industry into a key economic sector with sustainable development that is adaptable to climate change and friendly to the environment.
At the same time, the plan hopes to improve the quality, efficiency of production, and competitiveness of Vietnamese shrimp products, in a bid to benefit farmers, businesses and the country’s economy.
To reach those targets, the ministry will review and upgrade irrigation infrastructure, key traffic and the availability of electricity in regions in which shrimp are raised, based upon modern industrial models; and re-organise small production facilities to become cooperatives for creating larger regions that will connect with enterprises supplying input materials and consuming products within the value chain.
Also, the ministry will research and ensure that before 2025 the industry will offer a variety of shrimp that grow quickly and are free of diseases. It will also research the technology of shrimp feed production to actively produce this product at home.
The industry will apply scientific and technological advances and modern management measures to shrimp production regions, and modern technologies for processing shrimp to increase the volume of value-added products meeting food hygiene and safety standards, as well as the demands of importing countries.
In addition, the ministry will study local and global markets in terms of consumer tastes, product categories, market demand and competition with other shrimp exporting countries to build an efficient market expansion plan. It will also improve the advertising of brands and build geographical indications for Vietnam’s shrimp products in key export markets, reported Dau tu newspaper.
According to the action plan, the domestic shrimp industry is expected to gain 4.5-5 billion USD in export value and record an annual average growth of 9.5-12 percent in 2017-20. In 2021-25, a hi-tech shrimp industry and large-scale eco-shrimp farming areas will be developed with infrastructure and technical services having synchronous, efficient and sustainable investment. The shrimp industry expects to reach the goals of 10 billion USD in export value and an average growth of 12-14 percent per year.
The total area rearing brackish water shrimp is estimated to reach 710,000ha, with total output of 850,000 tonnes of shrimp during 2017-20, and expand to 750,000ha and 1.1 million tonnes of output in the period from 2020-25.The ministry will review the plan for regions rearing shrimp using industrial models and hi-tech procedures, especially in the Cuu Long (Mekong) Delta region and central coastal region, to increase average productivity by 1 million tonnes per hectare.
At the same time, it will build and develop ecological shrimp areas with large scales in the Cuu Long Delta region, concentrated in Ca Mau, Kien Giang, Bac Lieu, Soc Trang and Tra Vinh provinces.
Ecological centres for rearing tiger prawn (shrimp-forest and shrimp-rice) will be built in Ca Mau province. Giant fresh water prawns will be reared in Dong Thap, An Giang, Ca Mau, Kien Giang, Soc Trang, Bac Lieu, Tra Vinh and Ben Tre provinces. Further, lobsters will be raised in Khanh Hoa, Phu Yen and Binh Dinh provinces.
The ministry will have trade promotions, expand export markets and develop post-harvest preservation to assure high export values.
In 2016, Vietnam gained a total export value for shrimp of 3.1 billion USD, a year-on-year increase of 4 percent, said the General Department of Fishery. This year, the export value is expected to continue to grow.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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