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| Shrimp exports bag nearly 3.6 billion USD in 11 months. (Photo: VNA) |
While this figure is lower than the record of 4.3 billion USD achieved in 2022, it marks a strong recovery compared to 2023, when shrimp exports totalled only 3.4 billion USD.
According to the Vietnam Association of Seafood Exporters and Producers, shrimp exports have shown positive signs in many markets. Exports to the US and EU have recorded steady growth. China is implementing policies to promote consumption, which may help increase demand for shrimp imports from Vietnam.
Export shrimp prices have shown signs of increasing, especially white-leg shrimp, helping to improve profit margins for businesses.
Raw shrimp prices are also at a positive level, which will support production and export. In November alone, the price of shrimp sized 50-60 pieces a kilogram is 103,000 VND a kilogram, up 5,000-9,000 VND a kilogram from the previous month.
Along with an uptrend in shrimp export prices, the processed shrimp sector is growing rapidly, marking a shift towards higher value-added products.
However, experts held that the Vietnamese shrimp industry faces significant challenges that need to be addressed to ensure sustainable growth.
Director of the Department of Fisheries Tran Dinh Luan said that Vietnamese shrimp needs to improve quality and reduce costs to compete in the international market.
Addressing the issues of quarantine of seed quality, crop season, farming density, disease management, reducing production costs and forecasting consumption situation of import markets will improve the shrimp export value chain and income for shrimp farmers./.