The opening quarter of the year witnessed the total shrimp export value hit more than US$900 million, representing a year-on-year rise of 37%.The current period is the time in which the European market and the United States can prepare food supply for consumers during the summer holidays, as well as stockpiling for the fall.Hoang Van Duy of the Mekong Seafood Connection limited company stated that demand for shrimps will be higher in Europe, the US, and markets which are in need of food supplies for the summer.Vietnamese farmers will therefore continue to benefit from the market recovery and global demand, he added.
In response to the growing market demand, many farmers based in the Mekong Delta region have moved to increase their investment in farming techniques and technology serving export.Statistics compiled by the Ministry of Agriculture and Rural Development indicate that the country’s shrimp farming area currently stands at over 740,000 hectares, with output topping 900,000 tonnes per year.
Despite the area only increasing by roughly 1.5% annually, the yield grew sharply by 10% on-year.