Vietnam Plus reported that for the whole of 2020, Vietnam’s shrimp exports hit a record high. The annual export volume reached 3.85 billion US dollars, an increase of 15%over the previous year.
At the end of October, the price of shrimp raw materials in Vietnam fell, which dampened the enthusiasm of farmers to a certain extent, or caused a shortage of raw materials in early 2021.
Media analysis believes that Vietnam’s shrimp export and processing industry will continue to benefit in 2021, and orders in overseas markets will continue to increase. It is recommended that exporters respond flexibly to the market and create diversified product lines to focus on meeting the needs of major markets during the epidemic.
Vietnam Seafood Export and Production Association (VASEP) Secretary General Truong Dinh Hoe said that the Vietnam-Europe Free Trade Agreement (EVFTA) came into effect in August last year, creating new opportunities for shrimp exports. He suggested that manufacturers improve product quality to cater to the European high-end consumer market, and reminded shrimp farmers to understand the global situation and adjust production flexibly.