Shrimp exports exceed target thanks to FTAs

According to the Department of Industry and Trade of Ca Mau, in 2024, the province's shrimp exports will grow beyond plan thanks to market demand and Free Trade Agreements (FTAs).

Shrimp export turnover reaches nearly 1 billion USD

Shrimp exports in the Mekong Delta region faced many difficulties last year, such as a lack of raw materials and a sharp increase in transportation costs. However, in Ca Mau - a locality with strengths in shrimp exports, the industry still achieved results that exceeded the set plan.

In 2024, the total seafood export turnover of Ca Mau province is expected to be more than 1.1 billion USD, up 5.86% over the same period last year and exceeding the set plan. Of which, shrimp export accounts for the majority, about 80%.

Free trade agreements help shrimp exports grow positively. Illustrative photo

According to the Department of Industry and Trade of Ca Mau, the growth of shrimp exports last year was due to the positive improvement in demand for seafood imports from major markets such as the US, EU, China, Japan, etc. The world's consumption trend has also shifted strongly to seafood products instead of traditional livestock and poultry meat. In addition, the free trade agreements (FTAs) that Vietnam has participated in have brought significant advantages, especially in terms of tariffs.

Mr. Phan Hoang Vu - Director of the Department of Agriculture and Rural Development of Ca Mau province said that in 2024, the total aquatic product output of the province is estimated to reach 647,000 tons, an increase of 2% compared to 2023. Of which, shrimp output is estimated to reach 252,000 tons, an increase of 4.5% compared to 2023.

Currently, Ca Mau province is developing aquaculture in an effective and sustainable direction; diversifying farming objects and methods, strongly converting from extensive shrimp farming to intensive, super-intensive, and improved extensive shrimp farming.

Statistics from the Department of Agriculture of Ca Mau province show that in 2024, the output of exploited shrimp will reach 10,000 tons. The area of ​​improved extensive shrimp farming will reach 188,000 hectares. The area of ​​super-intensive shrimp farming will reach 5,025.53 hectares, an increase of 5.21% over the same period and reaching 96.64% of the plan. Other types of shrimp farming such as shrimp-forest farming will reach an area of ​​20,907 hectares, shrimp-rice farming will reach 987 hectares and organic shrimp farming according to Vietnamese standards will reach 250 hectares.

In addition, the shrimp seed production industry also made progress when the number of quarantined shrimp seeds for sale increased significantly, reaching nearly 958.997 million, an increase of 291.182 million compared to the same period in 2023. Thanks to that, the supply of high-quality shrimp seeds has better met the production needs in and outside the province.

Despite achieving many positive results, the Ca Mau shrimp industry is also facing many challenges. Specifically, in addition to the issue of logistics costs, which has been assessed by leading experts as one of the major challenges for exports in the coming time, there are also many internal problems in shrimp production and processing in the province that need to be overcome, such as: The infrastructure system serving aquaculture is still lacking and not synchronized; seed quality is still low; although the processing industry has improved, it is still low compared to some countries; green production and low-emission circular economy are trends, but in the shrimp industry, they are still in their infancy.

Target of 1.65 billion USD in 2025

According to the Department of Agriculture and Rural Development of Ca Mau province, the province owns more than 280,000 hectares of aquaculture area and 25.6km of coastline. With a variety of farming models such as intensive, super-intensive, extensive, improved extensive, combined shrimp - rice, shrimp - forest, Ca Mau aims to become the largest shrimp farming center in the country and the Mekong Delta.

Shrimp farming using advanced technology in Ca Mau. Photo: Camau.gov.vn

On May 24, 2024, the People's Committee of Ca Mau province issued Decision No. 1026/QD-UBND approving the Shrimp Industry Development Plan of Ca Mau province for the period 2021 - 2030, with a vision to 2050. Accordingly, Ca Mau province sets a target of increasing the export turnover to 1.4 billion USD by 2025, and about 1.65 billion USD by 2030. To achieve the above goal, the total investment capital for shrimp industry development by 2030 is expected to be about 20,000 billion VND.

To achieve this goal, Ca Mau province focuses on organizing production according to suitable farming models, applying advanced technology to increase productivity, quality and competitiveness. At the same time, the province also focuses on developing a system of supplying high-quality breeds, improving modern processing capacity and protecting the environment. In particular, the structure of processed seafood products will shift towards increasing the proportion of value-added products to 75-80%, reducing the proportion of semi-processed products to below 20-25%.

Ca Mau also aims to maintain and develop traditional export markets such as the US, EU, and Japan, while expanding to other potential markets. By 2030, the seafood export market structure is expected to include 17% to the EU, 20% to Japan, 20% to the US, and 43% to China and other markets.

At the same time, Ca Mau also built a seafood complex as a model seafood urban area, which can provide housing for officials, experts, and workers working in the exploitation and aquaculture industry; a resettlement area for people who need to relocate to build a super-intensive shrimp farming area; a center for testing high-quality seed; a logistics service center, a domestic and international seafood trading floor.

Ca Mau is effectively exploiting the advantages of Free Trade Agreements (FTAs) to develop the shrimp industry in a sustainable manner and increase export value. By applying modern farming models, improving the quality of shrimp breeds, and expanding potential markets, the province has achieved results exceeding the plan in 2024. However, to achieve the export target of 1.65 billion USD by 2030, the Ca Mau shrimp industry needs to continue to overcome limitations in infrastructure, improve processing capacity, and promote green, circular production.

Source: https://congthuong.vn/ca-mau-xuat-khau-tom-tang-vuot-chi-tieu-nho-cac-fta-369063.html