Asia – emerging market for Vietnamese shrimp exports

The Vietnam Association of Seafood Exporters and Producers (VASEP) held a seminar on world shrimp demand and Vietnam’s supply capacity in Ho Chi Minh City on August 29.

asia – emerging market for vietnamese shrimp exports hinh 0
At the function, Carson Blake Roper, an expert on the EU market, cited a UN report on global urbanisation prospects as saying most of the world’s densely populated countries will be in Asia, which is expected to see a rapid expansion of the middle class and free trade agreements.

The region will also have higher demand for high-protein food, including shrimp and fish, he added.

Le Van Quang, head of Minh Phu Group boards of directors, forecast shrimp consumption in Asia to surge, particularly in China, despite its shrimp productivity having shrunk.

According to VASEP statistics, in the first seven months of this year, Vietnamese shrimp exports to China, Japan and the Republic of Korea respectively increased 40, 35.2 and 27.4 percent from the same period last year.

Experts said Vietnamese exporters need specific strategies for each market.

Roper advised these firms to build supply chains and refrigeration systems in Asian target markets, adding that improved infrastructure will help boost their competitiveness.