Vietnamese shrimp exports fall over 7% despite production growth
Vietnam`s shrimp industry saw exports fall by 7.8% last year to $3.6 billion, despite making increases in farming area and total production.
Total brackish shrimp production in Vietnam exceeded 762,000 metric tons, comprising 298,000t of black tiger shrimp, and 464,000t of ``white leg`` vannamei. This marked an increase over 2017`s production total of 6.3%, according to the article.
However, shrimp exports suffered as the country struggled to compete with other industry rivals such as India, Thailand, Ecuador, and Indonesia.
Exports to the EU were down 2.8%, Japanese exports were down 9.2%, and China and Hong Kong exports fell by 28%.
Vietnam`s fisheries directorate has attributed its export issues to the high relative cost of shrimp farming in the country, with feed prices accounting for 65-70% of total production costs.
In addition, Vietnam is short of its own baby shrimp supply, as it still imports 200,000-250,000 vannamei breeding shrimp every year.
The country`s fisheries directorate has set a raised export target of $4.2bn for 2019, while production has been guided to only marginally increase to 780,000t in volume.