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Shrimp and seafood farming
In recent years, Vietnam's processed shrimp has successfully surpassed Thailand and dominated the global market, however, in the context of the new crown epidemic, high inflation in many countries around the world, gasoline and transportation costs have also remained high, resulting in a sharp decline in the consumption of high-end shrimp in Vietnam, especially in important markets
such as the United States, the European Union and Japan.
such as the United States, the European Union and Japan.
The processing capacity of Vietnamese shrimp is very strong, however, the high cost of farming makes it difficult for
the shrimp farming industry.
the shrimp farming industry.
Dr.
Quoc Luc, former chairman of the Association of Exporters and Producers of Aquatic Products of Vietnam (VASEP) and chairman of the board of directors of Sao Ta Food Co.
, Ltd.
(Fimex VN), said that the United States is the world's largest shrimp consumer market and the main export market for Vietnamese shrimp, but in recent years, Vietnamese shrimp have had to compete fiercely with low-priced shrimp from India and Indonesia, especially Ecuador, and Ecuador has a competitive advantage
by virtue of its proximity to the United States.
Quoc Luc, former chairman of the Association of Exporters and Producers of Aquatic Products of Vietnam (VASEP) and chairman of the board of directors of Sao Ta Food Co.
, Ltd.
(Fimex VN), said that the United States is the world's largest shrimp consumer market and the main export market for Vietnamese shrimp, but in recent years, Vietnamese shrimp have had to compete fiercely with low-priced shrimp from India and Indonesia, especially Ecuador, and Ecuador has a competitive advantage
by virtue of its proximity to the United States.
This year, Vietnam's freight costs to the United States have increased by 4-5 times
from $4,000-5,000/container (40 feet).
In the U.
S.
market, Vietnamese shrimp products account for only about 10% of the market share, India and Indonesia each account for 20%, Ecuador accounted for 40%.
from $4,000-5,000/container (40 feet).
In the U.
S.
market, Vietnamese shrimp products account for only about 10% of the market share, India and Indonesia each account for 20%, Ecuador accounted for 40%.
Ecuador has particularly benefited
against a backdrop of a general slump in the global shrimp industry as a result of the recession.
Therefore, Dr.
Ho Quoc Luc pointed out that at this time, Vietnamese enterprises must be very careful when choosing the target market, and the farming area must be restructured
according to the high standards of ASC, BAP and other markets.
against a backdrop of a general slump in the global shrimp industry as a result of the recession.
Therefore, Dr.
Ho Quoc Luc pointed out that at this time, Vietnamese enterprises must be very careful when choosing the target market, and the farming area must be restructured
according to the high standards of ASC, BAP and other markets.
Le Van Quang, chairman of Vietnam's Minh Phu Aquatic Products Group, said the production cost of raw shrimp is too high, about 30% higher than that of India and Indonesia, and 2.
5-3 times
that of Ecuador.
Perhaps in another 5-10 years, Vietnam may lose its leading position in shrimp processing, in order to avoid being overtaken in this field soon, Vietnam needs to make reverse investment in agriculture to reduce costs and remain highly competitive in the market, to do this, the shrimp industry needs to carefully plan and develop
on a large scale.
5-3 times
that of Ecuador.
Perhaps in another 5-10 years, Vietnam may lose its leading position in shrimp processing, in order to avoid being overtaken in this field soon, Vietnam needs to make reverse investment in agriculture to reduce costs and remain highly competitive in the market, to do this, the shrimp industry needs to carefully plan and develop
on a large scale.
