Shrimp farming gradually recovers in Mekong Delta, exports remain robust
A shrimp processing factory in the Mekong Delta province of Ca Mau (Photo: VNA)
Despite the prolonged COVID-19 pandemic, shrimp exports have remained strong this year, also causing local retail prices to rise in the Mekong Delta.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first 10 months shrimp exports rose by 2.6 percent to 3.2 billion USD, with shipments to the US rising sharply.
The US accounted for 24 percent of exports as they rose 25 percent to nearly 1.7 billion USD.
The EU accounted for 12 percent at 864 million USD after rising by 7 percent, and the Republic of Korea accounted for 9 percent at 643 million USD.
Exports to Japan fell by 7 percent to 1.08 billion USD, and to China, by a whopping 24 percent to 872 million USD.
Frozen small white shrimp, processed white-leg shrimp, fish balls, surimi, whole fillet, cut pieces, dried anchovies, and dried squid were some of the best-selling products.
Exports of frozen whole shrimp, especially tiger shrimp, decreased due to the high prices and tight control over frozen food imports in China.
According to experts and businesses, thanks to lifting of COVID restrictions in southern provinces and cities, supply chains have been re-established, with shrimp exports gradually recovering since October.
Besides, the fourth quarter is when demand for shrimp peaks in Europe and the US.
According to the Vietnam Industry and Trade Information Centre, global demand for shrimp is generally on the rise, especially in large markets.
With supply from other countries still hit by the pandemic, Vietnam’s exports are likely to rise enormously in the next few months due to the numerous free trade agreements it has and its production remaining steady.
Exports by delta provinces will remain high due to the many sales contracts businesses there have signed, but rising transport costs and potential COVID-related complications remain major challenges, according to many provinces.
Vietnam targets shrimp exports of 4 billion USD this year./.
Related News
Vietnamese goods are becoming more and more "qualified"!
10:17 | 25/03/2024 Import-Export
Wood processing enterprises strive to increase the proportion of individually designed goods
09:50 | 26/03/2024 Import-Export
Vietnam experiences a trade surplus of over US$11 billion in two months
13:47 | 15/03/2024 Import-Export
Quang Ninh Customs: Striving to promote imports and exports
16:00 | 21/03/2024 Customs
Latest News
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
More News
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export
Singapore is the largest foreign investor in VN in Q1
14:43 | 27/03/2024 Import-Export
Thai Binh boosts investment, trade cooperation with Germany
14:38 | 27/03/2024 Import-Export
Lifting obstacles to develop industrial parks
10:24 | 27/03/2024 Import-Export
Unlock capital flows and create favorable conditions for investors
10:22 | 27/03/2024 Import-Export
More than 300 businesses, manufacturers to attend VGMF 2024
15:55 | 26/03/2024 Import-Export
Connecting with FDI firms helps boost wood exports: insiders
15:52 | 26/03/2024 Import-Export
Doosan Vina exports nearly 2,000 tonnes of modules to US
15:51 | 26/03/2024 Import-Export
Take advantage of shrimp export opportunities right from early year months
15:53 | 25/03/2024 Import-Export
Your care
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export