Minister suggests develop shrimp as national strategic product
Minister of Agriculture and Rural Development Nguyen Xuan Cuong has suggested developing shrimp as a national strategic product as it can contribute to agriculture growth in the rest of 2016.
Hanoi (VNA) – Minister of Agriculture and Rural Developm൩ent Nguyen Xuan Cuong has suggested developing shrimp as a national strategic product as it can contribute to agriculture growth in the rest of 2016.
The shrimp sector needs to build a strong brand in the global market, he said, adding that this product has a large consumption market.
In the context of climate change, Vietnam can turn challenges into advantages, he said.
The Mekong Delta needs to convert some rice growing areas into seafood breeding due to rising sea levels and increasing salinity, he explained.
There is potential for shrimp products to develop under the seafood restructuring strategy, he added.
According to the Ministry of Agriculture and Rural Development, shrimp exports are likely to surpass 3 billion USD by the end of this year.
Vietnam ships shrimp to 75 markets. The top 10 importers include the US, the EU, Japan, China, the Republic of Korea, Canada, Australia, ASEAN, Taiwan (China), and Switzerland, making up 95 percent of total shrimp export turnover in Vietnam.
The seafood sector raked in 3.15 billion USD from exports in the first six months of 2016, a year-on-year rise of 4 percent. Shrimp exports made up 1.4 billion USD, up nearly 5 percent against the same period last year.-VNA
Shrimp breeders as well as small and medium processors in Mekong Delta provinces will benefit from a European Union-funded project launched in Can Tho city on May 25.
Vietnamese shrimp exports to the US expanded 17.4 percent to reach 249.3 million USD in the first five months of the year, according to the Vietnam Association of Seafood Exporters and Producers.
The Vietnam Association of Seafood Exporters and Producers (VASEP) has lowered its forecast for shrimp export turnover to 3 billion USD from 3.3 billion USD in 2016.
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Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
Processing shrimp for exports (Photo: VNA)
