Nicaraguan shrimp is set to conquer new markets like Venezuela, China and Russia, according to the Nicaraguan Institute for Fisheries and Aquaculture (INPESCA) director Steadman Fagoth.

According to media reports, Venezuela has already committed to purchasing the shrimp catch from 50 Nicaraguan vessels as China and Russia expressed a "serious interest" in Nicaraguan shellfish, the civil servant indicated.

The report said that Fagoth did not give details on the price agreed upon with Venezuelan companies for each kilogramme of shrimp.

He only stated that the business takes place "under a framework of complementariness, reciprocity and solidarity" that is the Bolivarian Alternative for the Americas (ALBA), to which Managua and Caracas belong, he explained.

Nor did he specify when the shrimp vessel landings will be exported to Venezuela.

He commented to EFE that on the other hand, the country will stop depending on the US market in shellfish matters in the short term.