Vietnam’s brackish water shrimp production output surpassed 1.1 million tons in the first three quarters of 2024, with export revenue reaching $2.8 billion, the Voice of Vietnam reported.

The shrimp industry has set an export revenue target of $4 billion for this year.

According to a report from the Ministry of Agriculture and Rural Development’s Fisheries Department, domestic shrimp production faced multiple challenges. These included heat waves in Central Vietnam, drought in the Central Highlands, saltwater intrusion in the Mekong Delta, and storms and floods in Northern localities, all causing significant damage and impact to aquaculture.

Shrimp exports also encountered obstacles due to the global economic crisis, high inflation in major import markets, complex shrimp diseases, and high production costs.

However, it is predicted that global shrimp production will rebound towards the end of 2024 and stabilize in 2025. Vietnam’s shrimp industry may benefit from the potential increase in anti-dumping and countervailing duties imposed by the US on Ecuador, India, and Indonesia at the end of December 2024.

This presents an opportunity for the shrimp industry to make a breakthrough in the final months of the year to achieve the export revenue target of $4 billion.

Director General of the Fisheries Department Tran Dinh Luan emphasized that “increasing productivity and output must go hand in hand with the profitability of farmers and businesses.”

Additionally, he noted, businesses need to continue promoting their products to consumers, stay updated on market information, and accurately assess and respond effectively and promptly situations.