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Vietnam’s shrimp export turnover in 2009 experienced a significant increase despite the global economic crisis.

The General Department of Customs reported that Vietnam exported about 190,000 tonnes of shrimp and earned over US$1.5 billion, up 7.4 percent in volume and 0.73 percent in value compared to 2008.

2009 was a tough year for the aquaculture sector due to epidemic diseases, adverse weather and production difficulties.

Especially, sugpo prawn prices hit a 10-year record low in the first six months because of the economic slump. For this reason, many farmers stopped raising shrimp. Altogether, leading to a sharp decline in production.

Now that world demand is increasing, Vietnam’s shortfall of stock for export has driven sugpo prawn prices up by VND30,000 to VND120,000-150,000 per kilo.

2009 was a banner year for shrimp with 80 percent of farming households earning an average profit of VND50-60 million, even up to hundreds of millions of VND.

In 2009, Vietnamese shrimp were exported to 82 markets, the biggest of which were Japan, the US, the Republic of Korea (RoK), Taiwan, Germany, China, Australia, Canada, Britain and Belgium. Sugpo prawns, which contribute 75 percent of the total value, were a key product.

RoK, China and Australia are potential markets for the expansion of Vietnamese shrimp, together buying about 20 percent of the exported products. Also, notably, Germany’s shrimp imports make up 30 percent of all European countries imports put together.

This year, according to Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers, sugpo prawn will still be the key export product and the export value of white legged shrimp will double to US$500 million.

Shrimp export earnings are estimated to reach US$1.4 billion, Mr. Hoe said and added that surpo prawn prices will have direct impact on total export value.

Vietnamese shrimp exported to Japan will soon enjoy tax exemption when the Vietnam-Japan agreement on the import-export of aquatic products takes effect. This is a very important opportunity for Vietnamese businesses to increase their competitiveness.

Vice Minister of Fisheries Le Luong Phuong said localities should invest in the improvement of facilities, promote trade in traditional Vietnamese markets like the EU, the US, Japan, Russia and expand their markets to the Middle East and South America.

(VOV)