Shrimp exports likely to fetch US$4 billion this year

Society – Economy - Ngày đăng : 12:19, 19/11/2024

The Vietnamese shrimp industry is anticipated to rake in US$4 billion from exports this year amid a rapid rebound occurring in major markets coupled with cooling inflation, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

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Statistics indicate that shrimp exports brought in US$3.2 billion during the past 10 months of the year, up 13% on-year.

With regard to export markets, Vietnamese shrimp exports to China and Hong Kong (China) in the first 10 months of the year soared by 31% to reach US$676 million against the same period from last year.

According to VASEP, there are positive signs ahead for shrimp export in these markets, especially lobster exports which skyrocketed by 157% on-year to US$298 million in the reviewed period.

Insiders pointed out that the Chinese policy for stimulating consumption has also contributed to further promoting exports to this market.

Meanwhile, the country’s shrimp exports to the US during the 10-month period earned US$646 million, up 10% on-year, while shrimp exports to the EU reached US$408 million, up 17% on-year.

They pointed out that with inflation cooling down and import demand from major markets rising significantly, global shrimp prices tend to see an upward trajectory with the shrimp sector likely to gross US$4 billion this year.

VOV