Shrimp processed for export (Photo: VNA)Analysts of FPT Securities JSC (FPTS) predicted Vietnam to continue increasingshrimp output in 2021, reaching 730,000 tonnes, up 4 percent year-on-year.
Stable supply will be an advantage for Vietnamese shrimpexporters to expand their market shares in export markets.
The prices of exported shrimps are also forecast to riseslightly by 5 percent to an average of 9.6 USD per kg, according to an FPTSreport.
Meanwhile, experts from BIDV Securities Company said that itis difficult for Vietnam’s shrimp sector to enjoy high export growth in 2021,as the production of competitive countries such as India and Ecuador beginstrong recovery, especially when the two countries’ shrimp prices are 10-15percent lower than that of Vietnam.
However, the shipment of shrimps to the EU, which accountsfor 21 percent of Vietnam’s total shrimp export turnover, is expected to besupported by the EU-Vietnam Free Trade Agreement (EVFTA).
The tariffs imposed on frozen shrimps were slashed to zeropercent immediately after the EVFTA became effective on August 1, 2020, whilethose on processed shrimps will reduce to zero percent from January 1, 2027.
The output of Vietnam’s tra fish is also forecast tomaintain uptrend this year.
FPTS expects that the export will bounce back thanks toincreasing demand of Vietnam’s main importers such as China, the US, and theEU.
Vietnamese businesses’ efforts to focus on value addedprocessed products which meet all requirements on food safety and origintraceability of products will be paid off, with the export value of processedtra fish to surge in 2021./.
VNA
