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    Home > Food News > Food Articles > Vietnam's shrimp industry: perseverance and perseverance in the market

    Vietnam's shrimp industry: perseverance and perseverance in the market

    • Last Update: 2023-02-02
    • Source: Internet
    • Author: User
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    According to a report by the Vietnam Seafood Processing and Export Association, Vietnam's shrimp exports are expected to reach US$4.
    3 billion in 2022, an increase of 10%
    year-on-year.
     
    Industry experts believe that the above achievements of Vietnam's shrimp export industry are due to the perseverance of the business community, sticking to the market, proactively meeting challenges, accurately predicting market trends and implementing appropriate sales strategies
    .
     
    For the reasons why shrimp exports maintained their growth momentum, Zhang Dinh Huai, secretary-general of the Vietnam Seafood Processing and Export Association, said that in the post-epidemic era, demand in major markets such as the United States and China has recovered
    .
    Both freight and export prices increased, with export prices rising by 10 to 15 per cent
    .
    Enterprises have effectively used FTAs such as the Comprehensive and Progressive Fast Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) to boost exports, with markets such as Canada, Mexico and Australia increasing by more than 30%, with exports of more than
    US$200 million each.
     
    At the same time, various trade promotion activities have resumed, enterprises have grasped the work of producing raw materials, adhered to the market, and grasped new consumption trends
    .
    Therefore, unlike other industries, the shrimp industry needs too much recovery time and sticks to its own path of modernization
    .
     
    Truong Dinh Huai, secretary general of the Vietnam Fisheries Processing and Export Association, said that Vietnam is now one of the countries with a high level of
    processing in the world.
    Vietnam's shrimp industry attaches importance to green and sustainable production to meet the consumer needs of developed countries, while at the same time looking for low-competition markets to expand the scope
    of the market.
    (End)
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