Vietnams shrimp farming industry undergoing reshuffle

Hi-tech shrimp farming has become an attractive business for many investors.

Vietnam's strong rise in shrimp exports in 2017 is expected to continue in 2018

Truong Dinh Hoe, secretary general of the Vietnam Association of Seafood Exporters and Producers (VASEP), said that Vietnam’s strong rise in shrimp exports in 2017 is expected to continue in 2018.

Shrimp is Vietnam’s key seafood product. The country competes well with India and Thailand, two major rivals, thanks to its aquaculture and processing technology.

Vietnam gears up 

Minister of Agriculture & Rural Development Vu Van Tam said Vietnam is striving to export $10 billion worth of shrimp products by 2025. Experts said the target is within reach, since Vietnam has favorable natural conditions for sustainable development, good farming techniques, a skilled workforce and good export companies. 

More than 10 years ago, Vietnam was nearly nonexistent in the world’s shrimp market, but is now in the third position, just after India and Thailand.

However, experts said to fulfill the ambitious plan on shrimp exports and to increase the value of shrimp exports, Vietnam needs to rely on processed products and hi-tech farming.

Dang Quoc Tuan, deputy chair of the Vietnam-Australia Group, commented that to reach the $10 billion goal, Vietnam needs to maintain export prices at stable levels, while farmers need to be more efficient. The $10 billion plan will fail if there is only one successful crop for every 3-4 crops.

Shrimp farmed in membrane houses are designed to create a natural ideal environment for shrimp, thus controlling epidemics and preventing shrimp from unstable weather conditions. 

Hi-tech shrimp farming will also need other conditions, including a biological farming process, ultraviolet water filtration system and supply of high-quality shrimp breeders.

Tuan’s company now has 300 hectares of high-tech shrimp farming area in Bac Lieu province where shrimp is bred in glasshouses with an average yield of 120-140 tons per hectare per annum.

However, hi-tech farming is beyond the capacity of small-scale companies because of limited financial capability.

According to Phung Quoc Dien, general director of NS BlueScope Lysaght Vietnam, a membrane house solution provider, the investment rate for every square meter of infrastructure area to serve hi-tech shrimp farming is VND500,000. The amount of money doesn’t include expenses on land, ponds and others. 

In general, to have a 1,000 square meter pond for shrimp farming, one needs to invest VND600 million.

Vo Tong Xuan, an agriculture expert, said that, to deal with the problem, it would be better for businesses and farmers to work together for mutual benefit.