Image: Viet-Uc Seafood / FIS

Vietnam's shrimp exports reached over 686 million USD in Q1/2024

VIET NAM
Monday, April 29, 2024, 01:00 (GMT + 9)

In March 2024, shrimp exports reached nearly 272 million USD, up 3% over the same period last year. Although the growth rate is still modest, this shows that purchasing power from the markets is recovering.

In March 2024, China&HK and the US were two prominent markets, recording growth of 17% and 4% respectively over the same period last year. Cumulatively in the first 3 months of this year, shrimp exports to China & HK earned 128 million USD, an increase of 75%; Exports to the US reached 121 million USD, an increase of 16%.

Source: Vasep

Exports to Japan, Korea and the EU in the first quarter of this year still recorded a decrease of 2% - 14% over the same period.

Notably, in the first quarter of the year, Vietnam's shrimp export activities were quite vibrant to a number of smaller markets such as Canada, Denmark, England, Taiwan, and Russia with a growth rate of 17% - 224% compared to the previous year, same period.

Raw shrimp output and prices increased

According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger shrimp farming area and 13,871 hectares of white leg shrimp farming area. Shrimp production is estimated to reach 161.1 thousand tons, an increase of 4.8% over the same period in 2023. Of which, whiteleg shrimp production recorded a growth of 6%, black tiger shrimp production increased by 2% over the same period last year.

Source: Vasep

Ca Mau, Bac Lieu, and Soc Trang are the top 3 localities leading the country in shrimp production and export. Ca Mau ranked first in shrimp production with 22,942 tons of black tiger shrimp in the first quarter of this year, down 5%, whiteleg shrimp with 33,567 tons, down 5%. Ca Mau has strengths in shrimp farming with a shrimp farming area of about 280,000 hectares, output reaching 230,000 tons/year, including many types of farming such as: Super-intensive farming, intensive farming, extensive farming, improved extensive farming, shrimp farming. forests, shrimp and rice...

Ca Mau's shrimp export turnover in 2023 will reach over 1 billion USD; accounting for 40% of the area, 22% of output and nearly 30% of the country's shrimp export value.

Bac Lieu ranked second in shrimp production in the first quarter of this year with 12,502 tons of black tiger shrimp, down 14% and 13,577 tons of white leg shrimp, up 56% over the same period.

Source: Vasep

Over the years, Bac Lieu shrimp has had a certain position, being present in many markets that are considered demanding.

The entire province currently has 45 seafood processing factories meeting export standards to European countries, the US, Japan, Korea, China, Australia, the Middle East... with a designed capacity of nearly 210,000 tons/year, ranking second nationwide.

Source: Stockfile FIS -->

Next is Soc Trang in the first quarter of this year with output reaching 1,135 tons of black tiger shrimp, down 53% and 9,080 tons of whiteleg shrimp, up 50% over the same period.

The province's brackish water shrimp area and output in 2023 both exceeded the planned targets. In 2024, Soc Trang province sets a target brackish water shrimp farming area of 50,320 hectares, with an output of 215,000 tons.

Currently, cooperatives and shrimp farming households in Soc Trang have converted the traditional form of shrimp farming in earthen ponds to shrimp farming in canvas-lined ponds; shrimp farming in two, three or more stages combined with the installation of automatic environmental monitoring equipment.

In the first quarter of this year, Soc Trang, Ca Mau and Bac Lieu led in shrimp export turnover, accounting for 23%, 20% and 11% of the country's total shrimp export turnover, respectively.

Prices in Vietnam's raw whiteleg shrimp and black tiger shrimp farms have also tended to increase since January this year.

Through the first quarter of the year in a context where the shrimp industry still faces many risks, shrimp exporting enterprises still show efforts and determination in production and business.

Mr. Le Van Quang - Chairman of the Board of Directors of Minh Phu Seafood Group said that in order to increase orders, in recent times the business has actively participated in fairs and exhibitions around the world. Most recently, there was the International Seafood Fair in Boston in the US to introduce the company's products to world importers. Vietnamese shrimp products are highly appreciated by importers.

In the upcoming plan, Minh Phu continues to participate in exhibition programs to introduce products, expectedly in Japan and Korea... to reach consumers in these two countries.

In addition, the company also continuously improves shrimp quality through biological farming technology, helping to reduce costs and increase competitiveness for Vietnamese shrimp.

According to Mr. Ho Quoc Luc - Chairman of the Board of Directors of Sao Ta Food Joint Stock Company, the difficulties of the Vietnamese shrimp industry have not yet been overcome. From July 2023, Sao Ta Foods has put into operation the Vinfarm farm in Vinh Thuan, helping to expand the farming area by 203 hectares, bringing the total farming area to 525 hectares with the ability to supply 16,000 tons of raw shrimp. material/year. When this farming area is fully operational, it will significantly improve the enterprise's ability to be self-sufficient in raw shrimp. Regarding market difficulties, businesses will maintain existing solutions and be maximally flexible to take advantage of all opportunities, including paying attention to understanding opportunities in the Chinese market.

Mr. Tran Be Sau, CEO of Viet-Uc Seafood Factory (located in Bac Lieu province) shared: "Although the export market is facing many difficulties, with experience and flexibility in exporting, exports, we will continue to look for potential partners and expand markets to increase export turnover.

In parallel, there is investment in innovating technology and equipment and expanding production scale, in order to improve quality, increase value, and competitiveness for the province's exports to meet market demand and surpass market demand. trade barriers of importing countries.

Source: Viet-Uc Seafood

The leader of Vietnam Clean Seafood Joint Stock Company (Vina Cleanfood) informed that the company has a high-tech shrimp farming area of up to hundreds of hectares, thanks to a closed farming process with modern equipment and systems. Good farming techniques result in high post-harvest shrimp output. On average, a farming pond has an area of 1,200 m2, harvesting 10 tons of shrimp/pond/stocking period, with some ponds stocking density up to 20 - 30 tons. /pond/batch (1 pond can be stocked many times a year). Currently, the company is continuing to seed the brackish water shrimp crop to ensure raw material sources for the processing plant to serve the export market.

In the first quarter of this year, shrimp export turnover accounted for 35% of Vietnam's total seafood export turnover. Vietnamese shrimp is exported to nearly 90 markets. It is expected that the growth momentum in the first quarter of the year will still be maintained in the next quarter when inventories in markets decrease and market signals are somewhat brighter.

Author: Kim Thu | Vasep (Translated from the original in Vietnamese)

editorial@seafood.media
www.seafood.media

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