Experts have been exploring various solutions to restore the competitiveness of Vietnamese shrimp exports, as reduced demand and higher requirements in terms of transparency and environment safety have had a significant impact on the sector since early this year.
At a seminar recently held in Ho Chi Minh City, shrimp experts from around the world shared the view that even if consumption improves in the rest of this year, Vietnam's shrimp export volume is forecast to decrease by 15% annually.
Willem van der Pijl, a leading expert in the shrimp industry and founder of Shrimp Insights, said Vietnam's shrimp export is estimated at around 320,000 tonnes this year.
This year, Vietnam and other shrimp-exporting nations have seen a reduction in shrimp exports to the US. Maintaining growth in exports to China is also expected to be challenging.
Jesper Clausen, Global Director for Aqua Nutrition and Tech Support at the Netherlands’ De Heus Group, advised the Vietnamese shrimp processors and exporters to tap every advantage related to the quality of Vietnamese shrimp, diversify processed products, and free trade agreements in order to enhance their exports.
Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers, suggested businesses increase their products of strength such as organic, sustainable, and value-added ones. Companies should also adopt appropriate sales and payment methods while making the most of advantages provided by the EU-Vietnam Free Trade Agreement (EVFTA) to improve their competitiveness when it comes to export to this market.
To achieve the shrimp export target of 3.6 billion USD this year, firms need to ramp up exports of their flagship products, which is likely tiger shrimp. They should also focus on increasing exports to China and boosting the shipment of value-added shrimp products to the EU, he said.
