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However, shrimp exports are expected to reach more than $4 billion for the year .
Usher in many opportunities in the European and American markets
Vietnam's shrimp exports will face a series of new challenges in 2022, according to the Directorate General of Fisheries of Vietnam's Ministry of Agriculture and Rural Development
.
According to a survey by the Global Aquaculture Alliance (GAA), global shrimp production will increase by about 8.
9% year-on-year in 2021 and is expected to continue to increase in 2022
.
This will have a huge impact on Vietnam's shrimp industry
.
Specifically, competition in Vietnam's major shrimp export markets has become more intense; global shrimp raw material prices are on a downward trend, which will put a lot of pressure on Vietnam's shrimp industry
.
In addition, it is also faced with the challenges of many countries' adjustments to imported product quarantine regulations and food safety warnings
.
.
According to a survey by the Global Aquaculture Alliance (GAA), global shrimp production will increase by about 8.
9% year-on-year in 2021 and is expected to continue to increase in 2022
.
This will have a huge impact on Vietnam's shrimp industry
.
Specifically, competition in Vietnam's major shrimp export markets has become more intense; global shrimp raw material prices are on a downward trend, which will put a lot of pressure on Vietnam's shrimp industry
.
In addition, it is also faced with the challenges of many countries' adjustments to imported product quarantine regulations and food safety warnings
.
Tran Dinh Huai, secretary-general of the Vietnam Association of Aquatic Products Processing and Export (VASEP), analyzed that overall, market demand will continue to recover this year, but medium and long-term contracts are difficult to execute and are converted into short-term, individual contracts
.
The main markets for Vietnamese shrimp are still the United States, the European Union, Japan, China and South Korea
.
.
The main markets for Vietnamese shrimp are still the United States, the European Union, Japan, China and South Korea
.
The U.
S.
is a major market for Vietnamese shrimp in 2021, with exports reaching more than $1 billion
.
However, it is also a significant market for other shrimp exporters such as India, Indonesia and Ecuador
.
Vietnam has an advantage in flour-coated prawns, but India, Indonesia and Ecuador have a large market share in raw prawns and shrimps
.
"In 2022, the U.
S.
will remain the largest market for Vietnamese shrimp
.
With the zero anti-dumping tax rate, companies continue to vigorously export shrimp products to this market while the market demand is still strong, " said Mr.
Zhang Dinh Huai
.
S.
is a major market for Vietnamese shrimp in 2021, with exports reaching more than $1 billion
.
However, it is also a significant market for other shrimp exporters such as India, Indonesia and Ecuador
.
Vietnam has an advantage in flour-coated prawns, but India, Indonesia and Ecuador have a large market share in raw prawns and shrimps
.
"In 2022, the U.
S.
will remain the largest market for Vietnamese shrimp
.
With the zero anti-dumping tax rate, companies continue to vigorously export shrimp products to this market while the market demand is still strong, " said Mr.
Zhang Dinh Huai
.
As for the EU market, after the impact of the new crown pneumonia epidemic, shrimp exports to the EU decreased in the third quarter of 2021, and showed a strong rebound in the fourth quarter of 2021, mainly small shrimp exports
.
In 2022, the EU market, especially the UK, Germany, the Netherlands, Belgium and other shrimp consumption demand will recover again
.
The biggest competitor of Vietnamese shrimp products in the EU is Ecuador, but Vietnam has advantages in the deep processing of small and medium shrimp
.
.
In 2022, the EU market, especially the UK, Germany, the Netherlands, Belgium and other shrimp consumption demand will recover again
.
The biggest competitor of Vietnamese shrimp products in the EU is Ecuador, but Vietnam has advantages in the deep processing of small and medium shrimp
.
Tran Dinh Huai, secretary general of the Vietnam Aquatic Products Processing and Export Association, stressed that shrimp exports to the Russian market will be interrupted due to payment and transportation risks, and it will be difficult to resume in the short term
.
In addition to the main market, companies need to focus on other potential markets such as Canada, Australia, and the United Kingdom to avoid over-reliance on certain specific markets
.
Companies also need to develop strategies to develop strong products in key markets, while leapfrogging the strengths of other countries
.
.
In addition to the main market, companies need to focus on other potential markets such as Canada, Australia, and the United Kingdom to avoid over-reliance on certain specific markets
.
Companies also need to develop strategies to develop strong products in key markets, while leapfrogging the strengths of other countries
.
Increase costs and reduce competitiveness
Many agricultural experts said that the factors that will strongly affect the price of shrimp products in Vietnam in 2022 are the conflict between Russia and Ukraine and the continued increase in fuel costs and international shipping costs
.
The price increase has led to a decrease in the competitiveness of Vietnamese shrimp compared to shrimp from India, Ecuador and Indonesia
.
.
The price increase has led to a decrease in the competitiveness of Vietnamese shrimp compared to shrimp from India, Ecuador and Indonesia
.
According to the General Administration of Fisheries, Vietnam’s shrimp industry faces deficiencies and major challenges.
The female shrimp relies on imports and natural sources, and can only supply part of it domestically, and cannot take the initiative in production
.
Overall, the production cost of shrimp in Vietnam is still higher than other countries in the region
.
The reason for this is that shrimp feed still accounts for a high proportion of production costs (about 65% or more of the cost of shrimp farming); the cost of shrimp fry is high due to the import of female shrimp; many shrimp farming areas that lack electricity must use internal combustion engines to pump water , ventilation and power generation (twice as expensive as electricity); high transportation costs for raw materials and materials,
etc.
The female shrimp relies on imports and natural sources, and can only supply part of it domestically, and cannot take the initiative in production
.
Overall, the production cost of shrimp in Vietnam is still higher than other countries in the region
.
The reason for this is that shrimp feed still accounts for a high proportion of production costs (about 65% or more of the cost of shrimp farming); the cost of shrimp fry is high due to the import of female shrimp; many shrimp farming areas that lack electricity must use internal combustion engines to pump water , ventilation and power generation (twice as expensive as electricity); high transportation costs for raw materials and materials,
etc.
In addition, the extensive shrimp farming technology is not suitable, the productivity is low, and the production efficiency is not high; although the farming area is large, the yield and value are low
.
Extensive shrimp farming areas need to take breakthrough steps in technology and shrimp fry (shrimp fry with disease resistance and rapid growth are required)
.
.
Extensive shrimp farming areas need to take breakthrough steps in technology and shrimp fry (shrimp fry with disease resistance and rapid growth are required)
.
In the future, the Deputy Minister of Agriculture and Rural Development of Vietnam, Phong Duc Chin, suggested that all localities strengthen the adoption of high-tech shrimp farming models; he emphasized the role of the No.
2 Aquaculture Research Institute, which should promote the research and promotion of high-quality female shrimp farming and limit imports as much as possible
.
In addition, Vice Minister Feng Dejin also asked all units and enterprises to promote the connection of shrimp production chains
.
"Small farms need to join forces to form cooperatives or cooperative groups
.
This is a vital form of production, and the production chain will contribute to the sustainable development of the shrimp industry," he said
.
(Finish)
2 Aquaculture Research Institute, which should promote the research and promotion of high-quality female shrimp farming and limit imports as much as possible
.
In addition, Vice Minister Feng Dejin also asked all units and enterprises to promote the connection of shrimp production chains
.
"Small farms need to join forces to form cooperatives or cooperative groups
.
This is a vital form of production, and the production chain will contribute to the sustainable development of the shrimp industry," he said
.
(Finish)
