Vietnam’s shrimp export value to China in July saw a year-on-year increase of 48 percent, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Hanoi (VNA) – Vietnam’s shrimp exportvalue to China in July saw a year-on-year increase of 48 percent, according tothe Vietnam Association of Seafood Exporters and Producers (VASEP).
The stronggrowth in July helped the seven-month figure improve by nearly 2 percent.
Shrimp exports to China were gloomy in the firstfive months of this year as the Chinese Government tightened control overcross-border trade and food safety. However, official exports by sea are likelyto increase, as seen in the 1.5-fold increase in sea shipments of white-legshrimp to China in June compared to May.
This trend is expected to bring positive resultsfor the shrimp sector in the last months of 2019, the association forecast.
After continuous declines in the first months ofthe year, overall shrimp exports also began to recover in July with an increaseof 13.4 percent and reached 334 million USD thanks to businesses’ efforts toboost sales to such major markets as the US, China, and Australia.
Vietnam aims to earn 4.1-4.2 billion USD fromshrimp exports this year, higher than 3.6 billion USD recorded in 2018,according to the Directorate of Fisheries under the Ministry of Agriculture andRural Development.
Vietnam’stotal export turnover from aquatic products in the first seven months of 2019reached 4.7 billion USD, nearly equal to the same period last year.-VNA
Vietnam’s shrimp exports are expected to grow this year to a value of more than 4 billion USD thanks to free trade agreements, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Minister of Agriculture and Rural Development (MARD) Nguyen Xuan Cuong has asked localities and enterprises to deploy measures to optimise opportunities for the shrimp sector to achieve the goal of 4.1-4.2 billion USD in export in 2019.
Exports of aquatic products in the second quarter could increase by 8 percent at the highest, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Developing globally-recognised Vietnamese shrimp brand is necessary for the agricultural sector to realise a target of 10 billion USD in shrimp export revenue by 2025, according to the insiders.
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While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Processing shrimp for exports (Photo: VNA) 
