According to data from the Vietnam Association of Seafood Exporters (VASEP) and other online sources, the Vietnamese shrimp market is facing a number of current issues, including:
Rising production costs: The cost of producing shrimp in Vietnam has been rising in recent years, due to factors such as increasing feed prices and labor costs. This has put some pressure on shrimp producers in Vietnam.
Trade barriers: Some countries have imposed trade barriers on Vietnamese shrimp, such as high tariffs and import quotas. These barriers can reduce the demand for Vietnamese shrimp in these markets.
Sustainability concerns: There is some concern about the sustainability of shrimp farming practices in Vietnam, such as the use of antibiotics and chemicals. These concerns need to be addressed in order to ensure the long-term viability of the Vietnamese shrimp industry.
Fragmentation: The Vietnamese shrimp industry is highly fragmented, with many small-scale farmers and processors. This can make it difficult to coordinate the supply chain and ensure the quality of shrimp products.
Lack of transparency: There is a lack of transparency in the Vietnamese shrimp supply chain, which can make it difficult for consumers to know where their shrimp is coming from and how it was produced.
The Vietnamese government and industry stakeholders are working to address these challenges and improve the efficiency and sustainability of the Vietnamese shrimp supply chain. For example, the government is providing support to shrimp farmers to help them improve their production practices and reduce their environmental impact. The industry is also working to develop more sustainable shrimp farming practices and to improve the traceability of shrimp products.
Despite these challenges, the Vietnamese shrimp market is expected to continue to grow in the coming years, driven by increasing global demand for shrimp.