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Ho Quoc Luc, president of Vietnamese shrimp exporter Fimex (Sao Ta), said global shrimp production is estimated at 5 million tonnes, an average annual increase of 5 percent
.
.
Ecuador, India and Vietnam are the main shrimp producers in the global market, and since 2018, Ecuador's shrimp production has grown significantly to become the world's largest producer of shrimp, followed by India, which is the world's third largest shrimp producer, with a production of at least 900,000 tons
in 2021.
in 2021.
Among the six countries with the largest shrimp production in the world, in addition to the above countries, other countries include Indonesia, China and Thailand
.
.
Minh Phu Group President Le Van Quang said that compared with other shrimp producing countries, Vietnamese shrimp prices are relatively expensive, Vietnam is mainly based on small-scale retail production, feed and pharmaceutical production raw materials need to rely on imports, so the current production cost of Vietnamese shrimp is 30% higher than India and Indonesia, and several times
higher than the production cost of Ecuadorian shrimp.
higher than the production cost of Ecuadorian shrimp.
In addition to its low production costs, Ecuador has a great geographical advantage because its transportation and logistics costs to the United States and the European Union are much
lower than those of Asian countries.
lower than those of Asian countries.
The United States is the main consumer market for shrimp products, Ecuadorian shrimp accounts for about 40% of the US market, Indian shrimp and Indonesian shrimp each account for nearly 20%, while Vietnamese shrimp currently account for only 10%.
Ho Quoc Luc said that Indonesia and Thailand were once considered to be the two countries with the highest level of shrimp processing in the world, and vietnamese shrimp currently have more processing capacity than Indonesia and are on par
with Thailand.
Due to the high level of processing, Vietnamese shrimp has gained a better market share
in the international market for the consumption of deep-processed products such as Japan, South Korea, Australia and the United Kingdom.
with Thailand.
Due to the high level of processing, Vietnamese shrimp has gained a better market share
in the international market for the consumption of deep-processed products such as Japan, South Korea, Australia and the United Kingdom.
Vietnamese shrimp is performing very well in the Chinese market, and the cooked black tiger shrimp produced in Vietnam is being purchased in large quantities in the Chinese market and is loved
by local consumers.
In order to maintain Vietnam's position and competitiveness in the world market, the Vietnamese shrimp industry needs to enhance its deep processing capacity
.
by local consumers.
In order to maintain Vietnam's position and competitiveness in the world market, the Vietnamese shrimp industry needs to enhance its deep processing capacity
.
Ho Quoc Luc said that the processed shrimp industry is constantly promoting the application of scientific and technological achievements, reducing labor, improving production efficiency, and the logistics system is becoming more perfect
.
.
