Vietnam may substantially increase shrimp production in 2021, and the pressure on enterprises to compete

April of this year, Vietnam's international foodmate.
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This figure is much higher than the 510,000 tons predicted by Robins McIntosh, senior vice president of CPB and other industry figures.

 

　　Le Van Quang, president of Minh Phu Seafood, the largest shrimp company in Vietnam, said that Vietnam has effectively prevented the spread of the new crown epidemic and shrimp processing plants are operating normally.
However, if the shrimp industry in Vietnam fails to improve its aquaculture technology and adopt new solutions, In the next few years, the competitive pressure will intensify.

 

　　Le Van Quang said that in terms of product prices, Ming Fu Group launched fierce competition with manufacturers in Thailand, Indonesia, Ecuador, China and India last year.
Compared with Thai and Indian products, the cost of Vietnamese shrimp products is 10-30% higher, which puts trade competition at a disadvantage.

 

　　Le Van Quang reminded that among the current competitors, India, Indonesia and Ecuador are the three countries that need special attention in the Vietnamese industry.
Although the farming cost of Indian white shrimp is low and has many competitive advantages in price, the growth rate of Indian production is not stable due to the influence of weather and disease.