Vietnam eyes $4 bln in shrimp exports
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Vietnam targets a 5 percent increase in shrimp exports this year to $4 billion.
It also targets output of 930,000 tons and having 740,000 hectares of shrimp farms, said Tran Dinh Luan, director of the Directorate of Fisheries, said at the VietShrimp Aquaculture International Fair in Can Tho City on Wednesday.
He expected Vietnam to become the world’s biggest producer of farmed shrimp by 2045 with an output of four million tons and a 25 percent global market share.
Now there are 200,000 hectares of high-tech shrimp farms, 95 percent of them in the Mekong provinces of Bac Lieu and Soc Trang, mostly belonging to foreign companies.
Shrimp exports face difficulties since costs have risen by 20 percent due to a 200-500 percent jump in transport costs, Luan said, pointing out that shipping a container of shrimp to Europe has increased from $1,500 to $6,500, and even $7,500.
Last year, shrimp exports were up 11.7 percent to $3.8 billion, and output had been 900,000 tons.
Questions & Answers
Q.What is the specific export value target Vietnam aims to achieve for shrimp this year?
What is the specific export value target Vietnam aims to achieve for shrimp this year?
Vietnam is aiming to increase its shrimp exports by 5 percent this year, with a specific financial target of $4 billion. This goal was announced by Tran Dinh Luan, director of the Directorate of Fisheries.
Q.What challenges are current shrimp exports from Vietnam facing?
What challenges are current shrimp exports from Vietnam facing?
Shrimp exports are encountering difficulties due to a 20 percent increase in overall costs. This rise is primarily driven by a 200-500 percent jump in transport costs, making shipping to Europe significantly more expensive.
Q.What was the performance of Vietnam's shrimp exports in the previous year?
What was the performance of Vietnam's shrimp exports in the previous year?
Last year, Vietnam's shrimp exports saw a growth of 11.7 percent, reaching a total value of $3.8 billion. The output for that period was 900,000 tons.
Q.Which regions in Vietnam host the majority of high-tech shrimp farms?
Which regions in Vietnam host the majority of high-tech shrimp farms?
Ninety-five percent of Vietnam's 200,000 hectares of high-tech shrimp farms are located in the Mekong provinces of Bac Lieu and Soc Trang. These farms are mostly owned by foreign companies.
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