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March 22, 2017

 

Vietnam targets US$4.5B earnings from shrimp exports by 2020
 

 

Vietnam is targetting earnings of US$4.5 billion from shrimp exports between 2017 and 2020 and an annual average growth of 9.5-12%, the Ministry of Agriculture and Rural Development (MARD) said Tuesday, March 21.

 

The Vietnamese state-run news agency VNA reported that MARD had drafted a national action plan for shrimp development through 2025, which aims to develop a sustainable, environment-friendly and climate change-adaptable shrimp industry.

 

Under the action plan, shrimp export turnover during the period 2021 to 2025 should reach $10 billion, echoing Prime Minister Nguyen Xuan Phuc who has said that Vietnam's shrimp sector should aim for that export value by 2025.

 

The plan also targets an annual average export growth of 12% to 14% within the 2021-2025 time frame.

 

Farm areas

 

The total area used for brackish-water shrimp farming should reach 710,000 hectares with a total output of 850,000 tonnes of shrimp by 2017-2020. These figures should increase to 750,000 hectares and 1.1 million tonnes of output by 2020-2025.

 

To attain these goals, the MARD is to improve irrigation and transport systems at large-scale shrimp farming areas. Small-scale production facilities would be encouraged to join cooperatives to create large material production areas.

 

MARD would also invest in research to produce quality breeding shrimps. It would encourage and support the development of the domestic feed industry and application of modern technologies in shrimp farming and processing.

 

Last year Vietnamese shrimp exports reached $3.15 billion in value, up 6.7% from 2015, according to the Vietnam Association of Seafood Exporters and Producers (Vasep).

 

In 2017, Vietnam's shrimp export revenue is expected to rise 9% year-on-year to $3.4 billion, per Vasep.-Rick Alberto

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