Vietnam targets 4.2 billion USD of shrimp exports in 2019

Vietnam aims to earn 4.2 billion USD from shrimp exports and a total of 10 billion USD from seafood exports this year. A planning conference for the domestic shrimp industry was held Wednesday in Soc Trang province, one of Vietnam's largest shrimp producers.

According to Truong Dinh Hoe, Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), those targets will require the fishery sector to improve its competitiveness and the quality of Vietnamese shrimp products to meet international standards.

Minister of Agriculture and Rural Development Nguyen Xuan Cuong said the targets are ambitious and challenging as they represent a 10% increase from last year. He told the conference: We expect to achieve a total shrimp output of 780,000 tons, up 3% in volume and 10% in value. Advanced technology and more efficient management will be needed to hit those targets. Vietnam will also need to expand traditional markets like the US, the EU, Japan, and China, and penetrate new markets in the Middle East and Africa.

Source: VOV5