Asia will be a promising market for Vietnam shrimp in 2012

This year, Vietnam seafood exporters will boost their shipments to Asian markets such as China, Japan, South Korea thank to their advantages of geography, and credit-worthiness and high demand said General Secretary of Viet Nam Association of Seafood Exporters and Producers (VASEP), Mr. Truong Dinh Hoe. Shrimp consumption is still high in its major markets such as Japan, the U.S., China and South Korea in which the U.S. and Japan have tendency to increase importing value-added products and reduce purchasing raw shrimp. However, demand in the EU market is expected lower due to impacts of economic crisis. In 2012, Vietnam shrimp exporters will step up export to China and South Korea, the U.S., and value-added shrimp to Japan. Ministry of Agriculture and Rural Development (MARD) targeted US$6.5 billion of earnings from seafood exports this year, US$1.8 – 2 billion of which will be from pangasius, US$2.5 billion will be from shrimp and US$2 billion will be from marine products.

Source: Vasep

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