Vietnam's shrimp exports up 22% in first 11 months of this year

Published 2024년 12월 13일

Tridge summary

The Vietnamese shrimp industry has experienced a notable recovery in 2023, with exports failing to surpass the 2022 record of US$4.3 billion but showing significant improvement. The growth is supported by positive market trends, including steady increases in exports to the US and EU, and a surge in processed shrimp exports. Despite these gains, the industry faces several challenges such as seed quality, breeding density, disease management, and cost reduction. Experts recommend reforms and the adoption of advanced, sustainable, and climate-change-resilient farming practices to ensure the industry's future sustainability and competitiveness. Vietnamese farming companies are encouraged to innovate, use science and technology, and develop infrastructure to improve environmental management, reduce emissions, and increase the value chain in shrimp farming.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Although shrimp exports this year did not break the record of shrimp exports in 2022 (US$4.3 billion), the above results show that the shrimp industry has recovered significantly compared to 2023. According to the Vietnam Association of Aquatic Products Exporters and Processors, shrimp exports to many markets have sent positive signals, and exports to the US and EU markets have maintained a steady growth momentum. China is introducing policies to promote consumption, which may boost Vietnamese shrimp exports to this market. In addition, processed shrimp exports are booming, becoming a positive signal that companies are turning to value-added products. However, the Vietnamese shrimp industry is currently facing some challenges, such as seed quality quarantine, breeding density, disease management, cost reduction, import Market sales forecast, etc. Under the trends of international integration, digital transformation, circular economy and sustainable development, Chen Yuhai of Can ...

Source: Foodmate