Vietnam: Price drop, what bright door for shrimp exports?

Published Mar 20, 2023

Tridge summary

The Vietnamese shrimp industry overcame challenges posed by the Covid-19 pandemic and the Russia-Ukraine conflict in 2022, achieving a successful crop and a record export turnover of USD 4.3 billion. However, 2023 brings new challenges, including increased costs, competition from Ecuador and India, and decreasing global shrimp prices. To reach their goals, Vietnam plans to apply new science and technology in shrimp farming, manage input prices, and promote vertical and horizontal production linkages. The industry also aims to sustainably develop and manage brackish water shrimp seed quality.

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

Original content

According to the Directorate of Fisheries, in 2022, the shrimp industry has faced many difficulties, especially the impact of the Covid-19 pandemic and the conflict between Russia and Ukraine, which has had a strong impact on the value chain. Globally, fuel prices are unstable, prices of raw materials, petrol and aqua feeds have increased. Right from the beginning of the year, shrimp farmers have faced a difficult situation when most of the cost of input materials, such as: seed, feed, biological products, chemicals to treat ponds, etc. price increase each other. However, overcoming challenges and difficulties, the shrimp farming crop in 2022 was basically successful in terms of area, output and damage rate was controlled at less than 5.3%. In particular, shrimp export turnover in 2022 reached USD 4.3 billion, up 11.2% compared to 2021 - this is also the record high turnover of the shrimp industry so far. Despite achieving impressive results in 2022, in 2023, Vietnam's shrimp ...

Source: Vinanet