Industry news

Vietnamese exec forecasts 2021 shrimp production of 930,000t

Datetime：2021-04-27

Nguyen Viet Thang, chairman of the Vietnam Fishery Society, has said that in 2021, the country's shrimp sector aims to hit 930,000 metric tons of output.

Speaking at the Vietshrimp Aquaculture International Fair held earlier in April in Can Tho City, Thang said farmers aimed to cultivate over 740,000 hectares of land this year, with shrimp export sales reaching ＄4 billion.

This is considerably higher than the 510,000t predicted by Charoen Pokphand Foods' Robins McIntosh and other industry executives:

Minh Phu Seafood chaiman Le Van Quang said that processing plants have been operating as normal this year, with the country doing well to control the coronavirus pandemic. However, he warned that if Vietnam's shrimp industry does not improve its technology and adopt new solutions it will face tough competition in the next few years.

This time last year his company noted Vietnam faced intense competition on selling prices with other shrimp producers, including Thailand, Indonesia, Ecudor, China, and India.

Vietnamese products bear comparison with India's and Thailand's, Minh Phu said;however, Vietnam's production costs are some 10-30% higher, making competition difficult.

"Among the current competitors, India, Indonesia, and Ecuador are the three countries that Vietnam must pay special attention to. However, although India has many competitive advantages in price due to low shrimp farming costs, its shrimp production has an unstable growth due to strong impacts from weather and disease," Minh Phu wrote.

News Source: UCN