Shrimp exports set to recover ahead in Q3
VOV.VN - Vietnamese shrimp exports are anticipated to rebound from the third quarter of the year to make up for a prolonged drop from August 2022, said Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP).
Hoe made the forecast at the eighth Vietnam Shrimp Forum which was held in the Mekong Delta of Bac Lieu on June 23.
This projection is based on the positive signs witnessed in shrimp exports in March, April, and May in the United States – a market which moved to increase its shrimp imports from Vietnam and other countries.
The increasing demand for shrimp in the US market is expected to create more favourable conditions for Vietnamese shrimp to enter this market and other markets moving forward, said Hoe.
Meanwhile, China remains a potential market for Vietnamese shrimp, he said, adding that local firms are required to pay close attention to consumption habits in order to further boost their products to this market.
At present, Vietnamese enterprises are purchasing shrimp for reserves and closely keeping up with the market demand in order to prepare for a market recovery from July.
Vietnamese shrimp exports reached approximately US$1.4 billion in the first five months and are expected to rake in US$3 billion this year.
