Vietnam’s Department of Fisheries’ recent report on brackish water shrimp production highlights key statistics from 2023 and outlines projections for the industry in 2024. Notably, in 2023, the nation produced 10,094 whiteleg shrimp broodstock and 20,000 black tiger shrimp broodstock, meeting domestic and export demands at a rate of 90.1% compared to the previous year. Despite efforts, the brackish water shrimp farming area remained relatively unchanged at 737 thousand hectares.

Looking Ahead to 2024

The demand for broodstock shrimp is expected to range between 260,000 to 270,000, with shrimp seed demand reaching approximately 140-150 billion. The shrimp farming area is anticipated to remain at 737,000 hectares, with an estimated shrimp output exceeding 1 million tons and export turnover projected to reach between USD 4.0-4.3 billion.

Vietnam continues to assert its presence in the global shrimp market, with the Vietnam Association of Processing and Exporters indicating that the country ranked among the Top 12 export enterprises in 2023, accounting for nearly 50% of the industry’s export turnover. Despite facing challenges such as climate change impacts and rising input costs, Vietnam’s shrimp exports are expected to rebound, with a modest growth of 10-15% forecasted for 2024.

Targeted Export Markets and Economic Goals

Deputy Minister Phung Duc Tien expresses optimism regarding Vietnam’s export prospects, particularly in key markets such as Europe, Japan, Korea, and the United States. Additionally, there is a strategic focus on the Dutch market to enhance export value and added value. The seafood industry aims for a total export value of USD 10.5 billion in 2024, with concerted efforts in production organization, state management, technology adoption, trade promotion, and infrastructure investment expected to facilitate the realization of this goal.