In recent years, shrimp prices have been low in the first few months and only increased slightly at the end of the years. This situation causes many shrimp farmers to lose money and face difficulties.
Therefore, reducing shrimp production costs is a mandatory requirement in order to increase the competitiveness of Vietnamese shrimp in the world market.
However, at this time, it is impossible to reduce the cost of shrimp farming by reducing input costs such as breed, feed, and biological products. These input costs are all decided by businesses, not farmers.
Farmers need to choose an appropriate farming model as well as master the process of care and pond management. They especially need to choose high-quality breed, feed, probiotics, and products at reasonable prices in order to increase the success farming rate as well as shrimp productivity. It is important to help shrimp farming with technical information and knowledge so that they can manage the fluctuations of input costs and market.
Processing, Import and Export:
In 2019, the Ministry of Agriculture and Rural Development of Vietnam has set a target for seafood export of about $10 billion. However, after the first 8 months of the year, the export value was only at $5.4 billion, down 2.6%. compared to the same period last year. From now till the end of the year is the period for the seafood production industry and businesses to work on the targeted plan.
After a long decline, the price of raw shrimp has increased in the Mekong Delta provinces. Despite that, the price of pangasius (Tra fish) declines, which makes it difficult for farmers and exporters.
The aquaculture sector encourages the growth production chains. The sector focuses on developing strategic products in the direction of reducing prices and raising values in order to increase competitiveness with seafood products from other countries around the world.
Shrimp export in the last few months of the year is increasing because of the world market’s demand for Christmas and New Year 2020. In addition, Vietnam’s shrimp businesses have received a zero-antidumping duty from the U.S. Department of Commerce. These are good news for the industry to meet the export target of $10 billion.