Export shrimp enterprise locates potential market

Processed shrimp for export

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood enterprises need to proactively define the Chinese market as large, and that it offers a great potential for Vietnamese shrimp exports.

The Chinese market is becoming more and more interested in quality products and food safety. The diversity in demand, processing specifications, export methods, as well as with the advantages for Vietnamese shrimp with preferential tariffs, these factors will be the driving forces for increasing export to this market.

The import and export trend from Vietnam to China by sea is increasing significantly with more reasonable time and cost, minimizing risks, as well as limiting intermediaries. Therefore, the Vietnamese shrimp industry will increase its main export turnover by sea to big cities, in order to increase turnover for export to the Chinese market.

Along with that, enterprises should focus on improving the competitive power of Vietnamese shrimp. Besides the great pressures from the Seafood Import Monitoring Program (SIMP) and strong competition with the price of shrimp imported from India, anti-dumping tax is the biggest pressure for export enterprises to the US market and reduces the competitiveness of Vietnamese shrimp.

With the US market, enterprises need to invest in increasing the export of value-added products without being subjected to anti-dumping tax, and meet the requirement of the SIMP program to make a difference from other export countries like India.

In order to concretize the solution for the shrimp export market in reaching the target of $US 4.2 billion in 2019, the target of export turnover for each specific market has been set. Taking advantage of FTAs, the shrimp industry will focus on making the EU the main import market for Vietnamese shrimp, aiming for a turnover of $US 1 billion. The remaining 4 markets including: the US, Japan, China and South Korea are to also be boosted growth with a cumulative turnover of $US 3 billion.

Besides that, export enterprises should solve the problem regarding quality issues for complying with international certification. The European market is divided into two consumption trends: Southern Europe and Eastern Europe have no high demand for ASC certified shrimp products; the remaining areas choose shrimp products from ASC certified areas.

Accordingly, enterprises need to review shrimp products which are ASC certified as a key factor in order to boost exports to the EU. At the same time, actively creating consumer psychology of using quality shrimp products towards ASC.