In 2016, Vietnam’s shrimp exports amounted to US$3.15 billion, and the export target set this year was US$3.4 billion. According to industry insiders, the Chinese market is still unable to satisfy self-sufficiency, so it relies on the import of Vietnamese shrimp, which will raise the price of shrimp. Vietnamese shrimp processors said that there will be a short supply shortage of shrimp products on the market before May, and will be improved until the next fishing season.

The main export markets for Vietnamese shrimp, such as the European Union, Japan, South Korea and Australia, are strengthening their monitoring of imported products to prevent the intrusion of infectious diseases and ensure the quality of their seafood. For example, South Korea has recently added products from some importing countries to the quarantine list, including Vietnam. Since December 2016, Japan has conducted a sample survey of imported Vietnamese shrimp to monitor whether imported products contain banned antibiotics. The Australian side stopped importing fresh live shrimp to prevent the spread of white spotted virus.

The export target for shrimp products developed by the Ministry of Agriculture and Rural Development of Vietnam is to achieve a revenue of 10 billion U.S. dollars in 2030. According to some analysis, the Vietnamese shrimp industry is conditional to become the global shrimp industry center. But the industry still needs to expand infrastructure, including farms, processing plants, and value-added industries that enhance Vietnamese shrimp. Investment is required throughout the supply chain, including: shrimp, feed, seasonal plans, farming methods, processing technologies, and expansion of export markets.

Currently, about 70% of the cost of farmed shrimp is spent on feed and drug use, and these depend on imports. The shortage of processing raw materials is also one of the factors hindering the development of Vietnamese shrimp exports, with raw material imports accounting for about 17%.