From early March to September 2019, the prices of brackish water shrimp declined due to competitive materials from India and Ecuador and the inventory output from 2018, as well as China’s stricter control of quality and traceability at border, and unpredictable developments of the US-China trade war.
Given that situation, the Directorate of Fisheries under the Ministry of Agriculture and Rural Development promptly evaluated the market development to orient production and implement chained connection to reduce risks for export shrimp products.
As a result, the breeding area for brackish water shrimp in 2019 was estimated at 720,000 hectares, and the output reached 750,000 tonnes.
For tra fish products, the directorate directed localities to carry out some measures to maintain growth in 2019, and coordinated with relevant agencies to increase inspection on processing and export conditions.
The total tra fish farming area in 2019 is estimated to reach 6,600 hectares, up 22.2 percent against the same period last year, and the output is expected to hit 1.42 million tonnes. The export turnover is hoped to stand at 1.9 billion USD.
Deputy Minister of Agriculture and Rural Development Phung Duc Tien said the fishery sector needs to address some shortcomings in the coming time such as fishing port infrastructure, processing facilities, and logistics services.
The total fishery output in 2019 is projected to reach 8.15 million tonnes, a year-on-year rise of 4.9 percent. The export turnover is estimated at 8.6 billion USD.
In 2020, the sector hopes to gross about 10 billion USD from exporting aquatic products, a year-on-year increase of 6.3 percent.