April 4, 2023

 

Vietnam's shrimp industry pushes for better competitiveness and higher resilience, insiders say

 

 

To enhance its competitiveness and weather difficulties, Vietnam's shrimp industry is exerting stronger efforts and capitalising on every advantage to develop, according to insiders.

 

Businesses in the country's shrimp industry have faced numerous difficulties in 2022 such as a lack of information about the global shrimp sector, certificate of origin issues and high production costs.

 

Having won favour with global consumers, shrimp products in Vietnam now have a new advantage as farming zones have been granted production unit codes and quality certificates, including VietGAP and GlobalGAP.

 

Phung Duc Tien, Vietnam's Deputy Minister of Agriculture and Rural Development, said the ministry has asked businesses and farmers in the industry to fully comply with legal regulations on aquaculture, food safety and animal health, including the Law on Fisheries. They were also requested to create production plans in case of drought, saltwater intrusion, environmental changes, diseases and high input costs.

 

Aside from certified farming zones and incentives for farmers and enterprises to produce quality products, free trade agreements also give Vietnamese shrimp a competitive edge.

 

Some fishery experts said that under the EU-Vietnam Free Trade Agreement (EVFTA), which came into force on August 1, 2020, import tariffs on most of Vietnamese goods, including shrimp products, have gradually been removed. The deal has provided a legal basis and an opportunity for businesses to boost healthy and fair operations in European countries.

 

Additionally, the success in entering demanding markets is also partly attributed to the development of ecological and organic shrimp products.

 

Ecological shrimp farming has developed mainly in mangrove forest areas where farmers only need to release shrimplets, monitor weather conditions and ensure suitable salinity.

 

Thanks to favourable legal procedures and organic certification, shrimp products from eco-farming have been sold well in many markets.

 

Huynh Quoc Viet, chairman of the People's Committee of the southernmost province of Ca Mau, which is home to the largest ecological shrimp farming area in Vietnam, said due to their quality, local shrimp products have managed to enter Europe, Australia, South Korea and Japan.

 

Exports to Europe have grown 41%, Australia at 85%, Canada at 23%, South Korea at 14%, and Japan at 13%.

 

Tien said that, apart from boosting exports and adherence to quality standards like VietGAP, GlobalGAP and Aquaculture Stewardship Council, businesses should also make use of the domestic market to promote the stature of domestically produced shrimp. This will help the industry achieve this year's export target of US$4.3 billion.

- VNA