Vietnam plans to export 4 billion USD of shrimp in 2021

Right in the first days of 2021, the agricultural sector in general and shrimp enterprises, in particular, embark on the work, meeting the requirements of a series of orders from fastidious markets. Success in shrimp exports in 2020 was a driving force, creating momentum for export businesses to enhance production and value in 2021.

Mr. Phung Duc Tien - Deputy Minister of Agriculture and Rural Development said that Vietnam has advantages in markets, especially fastidious markets such as the US, Europe, and the large Chinese market.

Sharing about production and business results in 2020, Mr. Le Van Quang - General Director, Chairman of Minh Phu Seafood Corporation - said that the success in control Vietnam's Covid 19 pandemic is a good opportunity for the shrimp industry. In 2020, Minh Phu exported 55,000 MT of finished shrimp, with a turnover of US$580 million. The target in 2021 is set at 71 thousand MT of shrimp with a turnover of US$790 million.

According to VASEP, in 2021, there will be many favorable conditions for Vietnam's shrimp production and exports. World demand remains stable while other exporting countries have not yet recovered. China is the largest supplier in Asia, however, there is a shortage of shrimp for processing and consumption in this country.

Along with that, anti-dumping tax in the US on shrimp is low; Tariff advantages for Vietnamese origin of farmed shrimp products in the New generation Free Trade Agreements ...

In the current context, VASEP forecasts that shrimp exports in 2021 are likely to increase by about 15% compared to 2020, surpassing US$4 billion.

Mr. Vo Van Phuc - General Director of Vietnam Clean Seafood Cooperation said that the Covid 19 pandemic caused the supply chain in the shrimp industry to be broken, from operations in factories to farming activities. With this condition, we are not likely to achieve the set target of shrimp export reaching US$4 billion.

From a professional perspective, Mr. Tran Dinh Luan - Director General of the Directorate of Fisheries (Ministry of Agriculture and Rural Development) said the shrimp industry encourages effective farming models, low risk, traceability, ensuring hygiene and safety. In 2021, depending on actual conditions, the farmer can apply the appropriate forms to ensure a successful production.

In the context that the competitor's supply is facing difficulties and the situation is forecasted to not be better until the end of the first quarter of 2021, Vietnam's shrimp exports will continue to achieve growth milestones in 2021 if we ensure good farming and processing, said experts. The production of Covid-19 vaccines with the advantages of FTAs being utilized by businesses will be the driving force for shrimp exports in 2021.