According to the General Statistics Office, Vietnam’s seafood production in the first five months of 2024 reached 3,515,200 tons, marking a 2.6% increase over the same period last year. This growth includes notable contributions from various sectors: shrimp production hit 408,500 tons (up 4.3%), fish production rose to 2,570,100 tons (up 2.4%), and other aquatic products reached 536,600 tons (an increase of 2.2%).

Aquaculture Outpaces Marine Exploitation

The growth in aquaculture production has outpaced that of marine exploitation, aligning with Vietnam’s policy of reducing exploitation. Specifically, aquaculture output reached 1,918,100 tons, a 4.1% increase, while mining output stood at 1,597,100 tons, up by only 0.7%. Within this, marine exploitation saw a modest rise of 0.6%, totaling 1,524,300 tons.

In May alone, Vietnam’s seafood output increased by 2.8% over the same period last year, with shrimp production playing a significant role in this rise. Shrimp output in May increased by 5.8%, driven by the successful application of high-quality shrimp farming models. Specifically, whiteleg shrimp production reached 68,000 tons, an 8.1% increase, while black tiger shrimp production was 23,000 tons, up 3.1%.

Export Performance and Market Trends

Vietnam’s seafood exports in the first five months of 2024 totaled USD 3.6 billion, a 6.5% increase from the same period in 2023. Shrimp exports alone reached USD 1.3 billion, growing by 7%. Major markets, including the US, Japan, China, Korea, and the EU, have shown signs of recovery in both demand and import prices. The US market, in particular, led with a growth of 13%, reaching USD 635 million.

Bac Lieu province has emerged as a top player in Vietnam’s shrimp export industry. In the first five months of 2024, frozen shrimp export turnover from Bac Lieu reached nearly USD 354 million, a 6.9% increase. Shrimp exports account for 96% of the province’s total export turnover and over 27% of the country’s shrimp export turnover. In 2023, Bac Lieu’s export turnover hit USD 1 billion, with shrimp products contributing USD 973 million.

High-Tech Shrimp Farming in Bac Lieu

Bac Lieu province is home to 45 seafood processing factories, primarily focused on shrimp, with a design capacity of 294,000 tons per year. The province aims to maintain its status as the “shrimp industry center” of the country by promoting high-tech shrimp farming. Currently, 11 businesses and 806 households in Bac Lieu are engaged in super-intensive whiteleg shrimp farming, covering an area of 2,134 hectares. The province has also developed the “Bac Lieu high-tech agricultural zone for shrimp development” and supports trade promotion activities to help businesses expand their markets.