Momentum for Vietnamese shrimp to make breakthroughs

With COVID-19 being brought under control in Vietnam, many local products have started posting exponential export growth, including shrimp.

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Since the EU-Vietnam Free Trade Agreement (EVFTA) took effect in the middle of this year, export volumes of Vietnamese shrimp to the EU have increased 10 to 20% compared to the same period last year, bringing export volumes in the first nine months to 2.7 billion USD, up 10%.

Shrimp is among the items in the aquaculture sector experiencing the strongest rebound after COVID-19. Export value is expected to reach 3.8 billion USD by the end of this year, for an increase of 10% compared to 2019.

The continual improvements in product quality over recent times have resulted in Vietnamese shrimp carving out larger shares in major markets.

To maintain momentum, enterprises have exerted every effort to develop closed-loop supply chains that enable product origin to be traceable at any point.

Despite the global challenges that remain from the pandemic, demand for fisheries products has still risen 5% this year. Vietnamese shrimp are expected to penetrate more deeply into global markets in the long term, given the free trade agreements Vietnam has signed and the country’s determination to improve quality./.

VNA

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