Vietnam: Breaking barriers, the shrimp industry strives to achieve the target as expected

Frozen Common Shrimp & Prawn

Seafood

Vietnam

Published Mar 17, 2023

Tridge summary

In 2023, the shrimp industry is forecasted to face many difficulties due to market fluctuations. Enterprises need to overcome the "turbulences", be flexible in the face of changes and changes of the market to grasp the opportunities and strive, overcome difficulties and break barriers to aim for an export figure of more than 4. $3.3 billion this year.

Original content

In 2023, Vietnam's shrimp exports are forecasted to face many difficulties. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in 2022, Vietnam's shrimp exports will reach a record number of USD 4.3 billion for the first time, up 11%. compared to 2021. This is the highest figure ever, and higher than 2019 with $3.4 billion, 2020 with $3.7 billion, 2021 with $3.9 billion. Export value increased thanks to pillow orders from 2021 due to the suspension of the COVID-19 epidemic, and shrimp prices increased. Along with that are great efforts of enterprises in the context of many difficulties and consequences due to the impact of the epidemic, the conflict between Russia and Ukraine, high inflation, etc. Despite reaching a very large number in the year. 2022, however, in 2023, Vietnam's shrimp exports are forecasted to face many difficulties. Those are the challenges of having to compete more strongly with Ecuador and India. When in 2023, Ecuador is expected ...

Source: VNRuralEconomics