Vietnam: Selling food for shrimp and mackerel costs 2.38 billion USD, many businesses invest tens of millions of USD to build factories

According to the Food and Agriculture Organization of the United Nations (FAO), after China, Indonesia and India, Vietnam is currently the fourth largest producer and exporter of seafood globally. Similarly, changes in consumer eating habits, increased domestic seafood consumption and increased income have had a positive impact on the seafood feed business. Some of Vietnam's most popular seafood products are shrimp, tuna, pangasius and ocean fish. In addition, Government initiatives to increase certified sustainable seafood production are further accelerating demand for aquafeeds in Vietnam. According to the 2022 national plan, Vietnam's total export turnover of shrimp products is expected to reach 10 billion USD by 2025, and the accumulated brackish water shrimp farming area is 750,000 hectares. To achieve this goal, the Ministry of Agriculture and Rural Development is focusing on improving black tiger shrimp production, mainly due to higher prices compared to white shrimp, which ...