Shrimp industry strives to remain big foreign currency earner

Shrimp processors and exporters are working hard to sustain operations in year-end months (Photo: VNA)

HCM City (VNA) –Over the past one month, the shrimp industry in the Mekong Delta has beenexerting every effort to sustain operations and fulfill the signed export contractswhile there is not much time left in 2021 and many new COVID-19 infections continue to be recorded in the region.

The Vietnam Association ofSeafood Exporters and Producers (VASEP) said its shrimp committee has discussedthe resumption of activities at shrimp processing businesses, especiallymaterial- and market-related issues, with the pandemic safety taken intoaccount.

Consumers in many marketsstill prefer processed food - a strength of Vietnam’s shrimp industry asfactories boast modern equipment meeting strict food safety standards andskilled workers, VASEP noted.

Shrimp exports topped 3billion USD in the first 10 months of 2021, down 1.07 percent year on year,according to the General Department of Vietnam Customs.

VASEP blamed the decline onthe COVID-19 pandemic, which has forced processors and exporters to reduceoperations to practice social distancing.

Shrimp exports topped 3 billion USD in the first 10 months of 2021 (Photo: VNA)

It held that given thecurrent COVID-19 situation in the Mekong Delta, the largest agricultural andaquacultural hub in Vietnam, it is not easy to achieve this year’s shrimpexport target of 3.8 - 4 billion USD.

However, businesses in theindustry are also moving to seize opportunities, especially the high demand for foodto welcome year-end festivals in the US and Europe, the association added.

Many insiders shared the viewthat as the shrimp stockpile in many major markets is not much, their importdemand will increase by the end of the year while the global shrimp supply isforecast to decrease. Therefore, shrimp prices will go up, and this is a chancefor the industry to achieve the set target./.

VNA