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    Home > Food News > Food Articles > The shrimp industry is expected to generate US$6 billion in export revenue for Vietnam by 2025

    The shrimp industry is expected to generate US$6 billion in export revenue for Vietnam by 2025

    • Last Update: 2022-10-19
    • Source: Internet
    • Author: User
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    From SeafoodMedia on October 14, Vietnam's Ministry of Agriculture and Rural Development, the official newspaper "Tuoi Tre" and the People's Committee of Shuo Trang Province jointly organized a seminar on "Solving the dilemma of Vietnamese seafood to the top of the world" proposed that by 2025, the shrimp industry is expected to bring about 6 billion US dollars of export income
    to the country.
     
    Vietnamese vannamei is the "bright spot" of the industry's exports, so how should the strategic direction of development be taken to meet people's expectations and how can it contribute to the seafood industry to the top of the world?
     
    At the seminar, the Vietnam Association of Seafood Exporters and Producers (VASEP) pointed out that in the first eight months of this year, Vietnam's seafood exports reached US$7.
    7 billion, an increase of 38% over the same period last year, of which shrimp exports amounted to US$3 billion, catfish exports valued US$1.
    8 billion, and the rest was other seafood
    .
     
    Truong Dinh Hoe, president of the VASEP Association, said that of the total shrimp exports of $3 billion in the first eight months of this year, vannamei accounted for about 75%, black tiger shrimp accounted for 13.
    7% (16% in 2021) and other species of shrimp accounted for 11% (9% in 2021).

     
    Truong Dinh Hoe, in terms of farming area, as of 2021, there are about 600,000 hectares of black tiger shrimp farms and about 150,000 hectares of vannamei farms in the country, however, the production of black tiger shrimp only contributes about 250,000 tons, while the production of vannamei can reach about 700,000 tons
    .
     
    From the comparison data of export value and breeding area, it can be seen that the culture area of vannamei in South America is only 25% of the culture area of black tiger shrimp, but the export value is 5.
    5 times that of black tiger shrimp, and the export value of vannamei in South America reached 2.
    25 billion US dollars in the first 8 months of 2022, while the black tiger shrimp was only 411 million US dollars
    .
     
    When it comes to competitors, Truong Dinh Hoe said Ecuador had only 330,000 hectares of vannamei farming area last year, but realized $5 billion in export earnings
    .
    More than 186,000 hectares of vannamei are farmed in India and exported US
    $5 billion last year.
     
    In the upcoming planning strategy, Truong Dinh Hoe suggests: first, to increase the farm area in terms of culture scale, create a stable and positive supply, and in terms of quality, create opportunities for the development of the shrimp industry at good competitive prices; Secondly, the culture area of black tiger shrimp was reasonably converted to vannamei culture; Third, in terms of planning strategy, wild shrimp, rice shrimp and other breeding areas should be studied and planned, and should have sustainability certification
    .
     
    Vietnam's Ministry of Agriculture and Rural Development said that in addition to its advantages and potential, Vietnam's seafood industry faces many challenges, such as climate change, market volatility and changes in world consumption trends
    .
     
    Truong DinhHoe said that it is necessary to carry out comprehensive reforms in the fishing industry, regulate the fishing industry and marine development, and at the same time enhance the development of aquaculture, Vietnam's shrimp export earnings plan this year is 4.
    3 billion US dollars, which is expected to reach 6 billion US dollars
    by 2025.
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