Vietnamese shrimp persistently kept the market in a difficult and volatile year

Published 2022년 12월 29일

Tridge summary

The year 2022 posed significant challenges to the Vietnamese economy and the agricultural sector, including processed and exported agricultural products like shrimp. Despite these challenges, which included inflation, political instability, and increased fuel and transportation costs, the shrimp export industry managed to achieve a 10% increase in turnover from the previous year, reaching 4.3 billion USD. This success was attributed to various factors such as the demand in the US and Chinese markets, the utilization of export price increases due to increased freight rates, the benefits of free trade agreements like CPTPP and EVFTA, and the reorganization of trade promotion and market connection programs following the COVID-19 epidemic. The industry's resilience was also credited to the proactive approach of businesses in raw material procurement and production.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The year 2022 is considered to be a difficult year for the Vietnamese economy, as well as Vietnam's processed and exported agricultural products; including Vietnamese shrimp. The shrimp business community has been trying to maintain the market, trying to restore domestic production so that it can go through the period of impact from many factors of inflation, political fluctuations, fuel and transportation charges. . According to statistics of the Vietnam Association of Seafood Exporters and Producers, shrimp export turnover in 2022 is estimated at 4.3 billion USD, up 10% compared to 2021. Keeping stable, although it is difficult to make profits. Due to the post-COVID-19 response, fluctuations in freight rates, fuel prices, especially economic inflation in some major markets around the world have weighed on the needs of consumers. consumption. Meanwhile, shrimp is considered as one of the luxury food items that consumers need to reduce in difficult situations. This has directly ...

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