Minh Phu - Hau Giang Seafood JSC held a ceremony on January 5 to mark the export of frozen shrimp, the first batch of seafood export in 2021 to the US, Europe and Japan.

A ceremony on January 5 marks the export of frozen shrimp, the first batch of seafood export in 2021 to the US, Europe and Japan. Photo: sovhtt.haugiang.gov.vn

Speaking at the ceremony held in the Mekong Delta province of Hau Giang, Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development, requested local firms to strengthen cooperation to expand shrimp export markets.

Despite facing numerous difficulties caused by Covid-19 and natural disasters, Vietnam seafood export last year reached a turnover of US$8.4 billion, with total output reaching 8.4 million tons, an increase of 1.8% and 3.05% in terms of volume and value, respectively.

Minh Phu - Hau Giang Seafood JSC, a member of Minh Phu Seafood Corporation, also shipped 22,400 tons of processed shrimp worth US$240 million to the US, Europe, Australia, Canada, Japan, and South Korea, being all the demanding markets, thereby contributing to its corporation’s overall revenue of US$580 million from shrimp exports in 2020. 

In 2021, Minh Phu targeted to export over 70,000 tons of shrimp, with an estimated revenue of US$790 million.

In 2021, Deputy Minister Tien asked the relevant agencies, localities, the business community and shrimp producers to periodically assess market developments to adjust production plans and comply with regulations of foreign importers.

"Shrimp exporters should strengthen cooperation with local companies to diversify markets, continue to increase the share of value-added products, and control the quality of raw material sources, as well as ensure traceability of origin," the vice minister added.

Mr. Dong Van Thanh, Chairman of the People's Committee of Hau Giang Province, said the export of the first batch of shrimp of the year is a positive sign, adding that it opens up bright prospects for seafood exports in the future. In particular, the recent entry into force of the EU-Vietnam Free Trade Agreement will create the opportunity for the better penetration of Vietnamese shrimp products in this market due to the substantial reduction of tariffs.