Shrimp exports to drop to $3.5 billion this year: VASEP

The representative of the Vietnam Association of Seafood Exporters and Producers (VASEP) forecast that shrimp exports would be around US$3.2-3.5 billion this year, much lower than that of $3.95 billion last year because excessive shrimp supply has caused export price to drop.

The prediction was released at a conference within the framework of Vietfish 2015 in Ho Chi Minh City
According to VASEP, beside three largest shrimp importers comprising of the US, the EU and Japan, South Korea will be a potential market.
Although the price of Vietnamese shrimps is higher than that of India and Indonesia, the country will overcome this obstacle gradually. Besides, Vietnam has many advantages that can meet diversified demand of global market.
The Vietfish 2015 which takes place from August 24 to 26 has attracted local as well as global seafood producers from India, England, Canada, Japan, Germany, South Korea, and the US with 317 pavilions.

By Dang Cong – Translated by Thuy Doan

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