Shrimp exports down 28% year-on-year

According to the Import-Export Department (Ministry of Industry and Trade), the shrimp industry is facing many challenges such as: small, spontaneous activities; low success rate, high cost; low quality shrimp seeds. During the peak export months at the end of the year, world market demand may fluctuate unpredictably due to inflation, price competition with other exporting countries, etc.

View of the Shrimp Export Promotion Conference in Bac Lieu province. Photo: Nhat Ho

At the conference, representatives of the Ministry of Industry and Trade, the Ministry of Agriculture and Rural Development, the Vietnam Association of Seafood Processors and Exporters, departments, branches, localities and enterprises discussed, assessed the market, oriented the demand for raw materials for seafood processing for export; advantages, difficulties, shortcomings and proposals in shrimp export in the province; direction and support for seafood processing enterprises; implementation orientation; capital support policies, tax incentives for enterprises...

Bac Lieu is the province with the third largest shrimp output in the country, so shrimp export is a major source of revenue for the province. Photo: Nhat Ho

Mr. Truong Dinh Hoe - General Secretary of the Vietnam Association of Seafood Exporters and Producers said that in the coming time, if we want to export shrimp to the EU market, we must increase our strengths such as organic and sustainable products; have appropriate sales and payment measures; and make full use of the advantages from EVFTA to increase competitiveness.

For the Chinese market (accounting for 19% of Vietnam's total shrimp export turnover), in the coming time, if exporting shrimp to this market, we must also be flexible with the form of export, choose payment methods; update import policies of the Central and local governments; promote the export of strong products, take advantage of geographical advantages to promote the export of Vietnamese shrimp to China.

Shrimp processing factories for export in Bac Lieu province are constantly approaching technology in the export processing stage. Photo: Nhat Ho

Chairman of Bac Lieu Provincial People's Committee Pham Van Thieu said that with the potential and advantages of Bac Lieu combined with the attention and support of the Central Government; at the same time, summarizing the opinions and suggestions at the Conference, we will succeed, soon making Bac Lieu truly become the Center of Vietnam's shrimp industry and completing the target of achieving the province's export turnover of 1 billion USD in 2023 and 1.3 billion USD in 2025.

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