Vietnamese companies to adjust shrimp export market direction by end of 2024

Despite facing many difficulties, shrimp export companies have always taken the initiative to formulate corresponding strategies. For example, although the US market has a large consumption capacity, Vietnamese shrimp products are at a disadvantage in the competition with cheap shrimp from Ecuador and India, and the transportation costs have risen sharply recently. Therefore, many companies have reduced the proportion of exports to this market and turned to markets such as Japan, South Korea, Australia, and China. Some companies actively raise shrimp, formulate breeding and harvesting plans, and strive to sell at a higher price. Industry experts believe that in the last few months of this year, major import markets are expected to release better signals. Inventory problems and transportation difficulties will ease, demand will recover, and prices will rebound. If this scenario becomes a reality, everything will be better, ensuring that the shrimp industry's established goals for ...