Shrimp exports exceed targets thanks to FTAs

According to the Ca Mau Department of Industry and Trade, in 2024, the province's shrimp exports exceeded targets thanks to market demand and free trade agreements (FTAs).

Shrimp export revenue reached nearly 1 billion USD.

Shrimp exports from the Mekong Delta region faced numerous challenges last year, including a shortage of raw materials and a sharp increase in transportation costs. However, in Ca Mau – a province with a strong advantage in shrimp exports – the industry still achieved results exceeding its targets.

In 2024, Ca Mau province's total seafood export turnover exceeded US$1.1 billion, a 5.86% increase compared to the previous year and surpassing the set target. Of this, shrimp exports accounted for the majority, approximately 80%.

Free trade agreements have contributed to the promising growth of shrimp exports. (Illustrative image)

According to the Ca Mau Department of Industry and Trade, the growth in shrimp exports last year was due to the positive improvement in seafood import demand from major markets such as the US, EU, China, Japan, etc. Global consumer trends have also shifted strongly towards seafood products instead of traditional livestock and poultry meat. In addition, the free trade agreements (FTAs) that Vietnam participates in have brought significant advantages, especially in terms of tariffs.

According to Mr. Phan Hoang Vu, Director of the Department of Agriculture and Rural Development of Ca Mau province, the total aquatic product output of the province in 2024 is estimated at 647,000 tons, an increase of 2% compared to 2023. Of this, shrimp production is estimated at 252,000 tons, an increase of 4.5% compared to 2023.

Currently, Ca Mau province is developing aquaculture in an efficient and sustainable direction; diversifying species and farming methods, and strongly shifting from extensive shrimp farming to intensive, super-intensive, and improved extensive shrimp farming.

Statistics from the Ca Mau province's Department of Agriculture show that in 2024, the harvested shrimp production reached 10,000 tons. The area of ​​improved extensive shrimp farming reached 188,000 hectares. The area of ​​super-intensive shrimp farming reached 5,025.53 hectares, an increase of 5.21% compared to the same period and achieving 96.64% of the plan. Other shrimp farming models such as shrimp-mangrove farming covered 20,907 hectares, shrimp-rice farming covered 987 hectares, and organic shrimp farming according to Vietnamese standards covered 250 hectares.

Furthermore, the shrimp hatchery industry has also made progress, with a significant increase in the number of quarantined shrimp larvae sold, reaching nearly 958.997 million, an increase of 291.182 million compared to the same period in 2023. As a result, the supply of high-quality shrimp larvae has better met the production needs both within and outside the province.

Despite achieving many positive results, the shrimp industry in Ca Mau is also facing numerous challenges. Specifically, besides the issue of logistics costs, which leading experts have assessed as one of the major challenges for exports in the coming time, there are also many internal problems in the province's shrimp production and processing that need to be overcome, such as: the infrastructure serving farming is still lacking and inconsistent; the quality of shrimp fry is still low; the processing industry, although improved, is still lagging behind some countries; green production and low-emission circular economy are trends but are still in their infancy in the shrimp industry.

Target of $1.65 billion in 2025

According to the Department of Agriculture and Rural Development of Ca Mau province, the province possesses over 280,000 hectares of aquaculture area and 256 km of coastline. With diverse farming models such as intensive, super-intensive, extensive, improved extensive, shrimp-rice integrated farming, and shrimp-mangrove integrated farming, Ca Mau aims to become the largest shrimp farming center in the country and the Mekong Delta region.

Shrimp farming using advanced technology in Ca Mau. Photo: Camau.gov.vn

On May 24, 2024, the People's Committee of Ca Mau province issued Decision No. 1026/QD-UBND approving the Plan for the Development of the Shrimp Industry in Ca Mau Province for the period 2021-2030, with a vision to 2050. Accordingly, Ca Mau province aims to increase export value to US$1.4 billion by 2025 and approximately US$1.65 billion by 2030. To achieve these goals, the total investment capital for the development of the shrimp industry by 2030 is estimated at approximately VND 20,000 billion.

To achieve this goal, Ca Mau province focuses on organizing production according to suitable aquaculture models, applying advanced technology to increase productivity, quality, and competitiveness. At the same time, the province also prioritizes developing a high-quality seed supply system, improving modern processing capabilities, and protecting the environment. In particular, the structure of processed seafood products will shift towards increasing the proportion of value-added products to 75-80%, while reducing the proportion of semi-processed products to below 20-25%.

Ca Mau also aims to maintain and develop traditional export markets such as the US, EU, and Japan, while expanding into other potential markets. By 2030, the projected structure of seafood export markets is expected to include 17% to the EU, 20% to Japan, 20% to the US, and 43% to China, among other markets.

Simultaneously, Ca Mau is also building a model aquaculture complex, a model aquaculture city that can provide housing for officials, experts, and workers in the fishing and aquaculture industries; a resettlement area for people needing to be relocated to build a super-intensive shrimp farming area; a high-quality seed testing center; a logistics service center; and a domestic and international seafood trading floor.

Ca Mau is effectively leveraging the advantages of Free Trade Agreements (FTAs) to develop its shrimp industry sustainably and increase export value. By adopting modern farming models, improving broodstock quality, and expanding potential markets, the province achieved results exceeding its targets in 2024. However, to reach the export target of US$1.65 billion by 2030, Ca Mau's shrimp industry needs to continue overcoming infrastructure limitations, enhancing processing capacity, and promoting green and circular production.

Source: https://congthuong.vn/ca-mau-xuat-khau-tom-tang-vuot-chi-tieu-nho-cac-fta-369063.html