Shrimp exports to the US skyrocketUpdate: 11/14/2014
VOV) - Vietnam shrimp exports are forecast to reach US$3.8 billion this year, nearly one billion higher than last year on the back of rising exports to the US market, reports the Ministry of Agriculture and Rural Development (MARD).
In the first ten months of the year, Vietnamese shrimp exporters have grossed US$3.25 billion in revenue, up 42.3% over a year earlier.
The Vietnam Association of Seafood Exporters and Producers (VASEP) in turn has announced the US is now the largest importer of shrimp followed by Japan and the EU.
Shrimp exports to the Republic of Korea and Australia are also up 84.4% and 32.7%, respectively.
Minister Cao Duc Phat suggests that seafood businesses continue to research markets and seek new markets, while relevant agencies help businesses remove technical barriers to bolster exports.