Vietnam shrimp industry accelerates toward $4 billion target

According to the Department of Fisheries, Ministry of Agriculture and Rural Development (MARD), at the Workshop on "Effective Shrimp Farming Solutions" held on October 31, domestic shrimp production faced several challenges this year. The Central region experienced heatwaves, the Central Highlands dealt with drought, the South suffered from saline intrusion, and storms and floods in the Northern provinces caused significant damage to aquaculture. Shrimp exports are also hampered by the global economic crisis, high inflation in major import markets, complicated shrimp diseases, and rising production costs. Furthermore, there is increasing competition from countries like Ecuador and India.

Mr. Chau Cong Bang, Deputy Director of the Department of Agriculture and Rural Development of Ca Mau province, reported that in the first ten months of this year, farmed shrimp production in the province reached 200,000 tons, or 82.3% of the target, reflecting a 2% increase compared to the same period last year. The export turnover of aquatic products reached $968 million, equating to 87% of the plan and marking a 12% rise year-on-year. While these results are relatively positive, the low shrimp prices have significantly reduced profits for businesses and farmers, presenting a major challenge for the industry. This situation necessitates efforts to reduce production costs to enhance competitiveness in the global market.

In Bac Lieu province, the rapid development of super-intensive shrimp farming has occurred alongside limited implementation of wastewater and waste treatment solutions. Current wastewater treatment processes and technologies are insufficiently developed to ensure environmental protection and sustainable shrimp farming. Additionally, a lack of capital hampers investment in modern treatment technologies.

Anticipated Breakthrough in Final Months

Forecasts indicate that global shrimp production will rise again by the end of 2024 and remain stable in 2025. Vietnamese shrimp may benefit if the U.S. imposes higher anti-dumping and subsidy tariffs on Ecuador, India, and Indonesia by the end of December 2024. This scenario presents a significant opportunity for the shrimp industry to achieve its $4 billion export target in the last months of the year.

To meet these goals, the Department of Agriculture and Rural Development of Kien Giang is collaborating with localities to establish models of community management for concentrated farming areas that apply sustainable aquaculture standards, including GlobalGAP, VietGAP, and good aquaculture practices (BAP). They are also promoting the issuance of farm codes for product traceability and implementing criteria for building new rural areas. Additionally, they are focusing on preventing and controlling aquatic animal diseases and monitoring water quality in the province.

In Ca Mau province, authorities are guiding shrimp farmers to transition from traditional farming methods to biosafety-oriented models that reduce production costs. By innovating farming processes and minimizing risks during cultivation, costs can be saved, ultimately reducing product prices. To ensure the sustainability and effectiveness of the brackish water shrimp farming industry, Ca Mau province is also investing in upgrading shrimp farming infrastructure, thus lowering logistics costs and automating feeding, water pumping, and drainage processes to replace manual labor.