Minister of Agriculture and Rural Development Nguyen Xuan Cuong has suggested developing shrimp as a national strategic product as it can contribute to agriculture growth in the rest of 2016.
The shrimp sector needs to build a strong brand in the global market, he said, adding that this product has a large consumption market.
In the context of climate change, Vietnam can turn challenges into advantages, he said.
The Mekong Delta needs to convert some rice growing areas into seafood breeding due to rising sea levels and increasing salinity, he explained.
There is potential for shrimp products to develop under the seafood restructuring strategy, he added.
According to the Ministry of Agriculture and Rural Development, shrimp exports are likely to surpass US$3 billion by the end of this year.
Vietnam ships shrimp to 75 markets. The top 10 importers include the US, the EU, Japan, China, the Republic of Korea, Canada, Australia, ASEAN, Taiwan (China), and Switzerland, making up 95 percent of total shrimp export turnover in Vietnam.
The seafood sector raked in US$3.15 billion from exports in the first six months of 2016, a year-on-year rise of 4 percent. Shrimp exports made up US$1.4 billion, up nearly 5 percent against the same period last year.
Source: VNA
Key words: Minister, suggests, develop, shrimp, as national strategic product.
