Shrimp industry sets up a target of 4.2 billion USD

2018 business result has resulted seafood industry to set up a target of 11 billion USD in 2019 with shrimp sector alone reaching 4.2 billion USD, up more than 15% as compared to the previous year (3.6 billion USD).

General Secretary of VASEP Trương Đình Hòe said that Vietnamese shrimps are committed to a fierce competition in global market. In the US market, Indian shrimp has more advantages than Vietnam’s in terms of price and quality.

“To achieve the target, we need to focus on strength of Vietnamese shrimps with quality satisfying international certification. Besides, product positioning and traceability need to be done so that Vietnamese shrimps can be recognized over other shrimp products in global markets”, said Hòe.

Minister of Agriculture and Rural Development Nguyễn Xuân Cường said that 4.2 billion is a high target and a challenge to shrimp industryin 2019 when it must increase by 10% as compared to 2018.

To obtain success, shrimp industry need to make a plan with a closed production chain being put into the first priority. Farmers are advised to form a cooperative and team up with companies, hence, they will follow technical instructions of post larvae, feed and environment treatment.

Besides, 2,000 processing facilities with 200 modern factories will be taken use to make high quality products. Developing markets and managing central and local government for simultaneous assurance to produce clean products.