Vietshrimp Aquaculture International Fair promotes the shrimp value chain

On April 12, Vietnam Fisheries Society collaborated with the Department of Fisheries under the Ministry of Agriculture and Rural Development, the Vietnam Fisheries Magazine and various stakeholders to host the Vietshrimp Aquaculture International Fair 2023 (VietShrimp 2023). The event is organized at the Investment and Trade Promotion Center of Can Tho city from April 12 to April 14. The theme for Vietshrimp 2023 was "Elevate the value chain".

Over 200 booths from 150 domestic and international exhibitors representing all sectors of the seafood industry have participated in the international fair. Participants expressed their wish to help Vietnam's shrimp industry achieve sustainable development.

In addition to the exhibition and demonstration of products, equipment, seed, feed, new models and technological solutions for shrimp farming and processing, VietShrimp 2023 features seminars and discussions to exchange valuable informaton between managers, scientists, experts and businesses.

Mr. Nguyen Viet Thang, Chairman of the Vietnam Fisheries Society and Head of the Organizing Committee for VietShrimp 2023, said, "The shrimp industry has played an active and important role in Vietnam's seafood exports during the past five decades. The industry contributes to 45-50% of Vietnam's total seafood export value every year. Thanks to its continuous efforts, Vietnam has become a leading shrimp supplier, accounting for 13-14% of total shrimp export value of the world".

Vietnam's shrimp industry has undergone numerous innovations and improvements over the years. Namely, many households and businesses have increased their application of new technologies in shrimp farming to improve production efficiency and adapt to climate change. However, the production efficiency and competitiveness of Vietnamese shrimp products are limited and the industry still faces many challenges. VietShrimp 2023 aims to further upgrade Vietnam's shrimp value chain and consequently raise its competitiveness in the global and domestic markets.

According to Mr. Thang, the Vietnam Fisheries Society has implemented many meaningful programs over the years to assist farmers and fishermen across the country. “Through VietShrimp 2023, the Vietnam Fisheries Society and the Vietnam Fisheries Magazine want to affirm once again our desire to accompany and connect the four major stakeholders: managers, scientists, businesses, and farmers on the path of sustainable development for Vietnam's seafood industry".

The Vietnamese shrimp community has made constant efforts over the last ten years to position its products as one of the key global exports, contributing significantly to the growth of the sector as well as the Vietnamese economy.

Vietnam's shrimp exports reached a record of 4.3 billion USD in 2022 with 108 target markets. The nine main markets (including the EU, the USA, Japan, China, Korea, etc.), accounting for over 97% of the total export value. Vietnam's total brackish water shrimp farming area reached 737,000 hectares in 2022, with 622,000 hectares of black tiger shrimp and 115,000 hectares of whiteleg shrimp. Accordingly, the output of brackish water shrimp farming reached 1.08 million tons, including 271,000 tons of black tiger shrimp, 744,000 tons of whiteleg shrimp.

Despite its outstanding export activities, Vietnam's shrimp industry still faces numerous obstacles and constraints in both input and output specifically raw material availability. Most notably, the production costs for shrimp farming in Vietnam are higher than that of other countries, leading to less competitive product prices. As a result, the value chain of Vietnamese shrimp has not achieved optimal efficiency.

According to experts, although the shrimp industry is forecast to face even more difficulties in 2023, Vietnam still set the goal of maintaining stable output and export turnover. All stakeholders in the shrimp value chain must actively participate to overcome challenges and achieve set goals. Consequently, this will lower production costs as well as increase Vietnamese shrimp quality and competitiveness in the world market.