The European Union (EU) market has always been known for its high quality requirements, making it an attractive destination for the shrimp industry of many countries, including Vietnam. Meeting EU standards not only enhances product value but also helps affirm the position of Vietnam’s shrimp industry in the international market.
The EU’s stringent standards are both a challenge and an opportunity for Vietnam’s shrimp industry
OPPORTUNITIES FROM THE EU MARKET
With an impressive growth rate of 26.8%, the EU market has quickly become one of Vietnam’s key seafood export markets, contributing 11.4% of total export turnover. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp exports to the EU have grown continuously since April, reaching a stable level in the following months. As of mid-July 2024, the value of Vietnam’s shrimp exports to the EU had reached USD 241 million, up 14% year-on-year.
Vietnamese shrimp export prices to the EU continued their upward trend in Q2/2024, with whiteleg shrimp ranging from USD 7.2–7.4/kg and black tiger shrimp from USD 8.6–10.3/kg. This shows that demand from the EU market for Vietnamese shrimp, especially whiteleg shrimp, remains very high. Whiteleg shrimp accounts for up to 80.5% of the export structure, with companies such as Minh Phu, Nha Trang Seafoods, and Thong Thuan leading the industry.
COMPETITIVE CHALLENGES AND INTERNATIONAL STANDARDS
Although Vietnam’s shrimp exports have achieved encouraging results, competition from countries such as India, Thailand, Ecuador, and Brazil remains very strong. In particular, shrimp from Ecuador, with its price advantage, is a formidable competitor, threatening the position of Vietnamese shrimp. In addition, global economic fluctuations are also putting further pressure on the export industry.
To maintain and expand market share, Vietnam’s shrimp industry not only needs to ensure product quality, but also must meet stringent food safety and traceability requirements. Under EU regulations, imported shrimp must be free of banned substances, contain no veterinary drug residues above permitted levels, and ensure clear traceability from the farm pond to the consumer. These standards not only help protect consumer health but also contribute to building trust in Vietnamese shrimp products.
In addition, exporting enterprises must strictly comply with international standards such as HACCP in the production process, from farming to packaging and labeling. This not only helps Vietnamese shrimp more easily overcome technical barriers but also brings long-term economic benefits.
Vietnamese export shrimp need to meet packaging and labeling requirements under international standards
VIETNAM’S SHRIMP INDUSTRY AHEAD OF THE EU’S STRINGENT INSPECTION
From September 24 to October 17, an inspection team from the EU’s Directorate-General for Health and Food Safety (DG-SANTE) will visit Vietnam to assess the system for controlling chemical and antibiotic residues in exported seafood products, especially shrimp. This is an important milestone, opening up major opportunities for Vietnam’s shrimp industry if it can meet EU standards.
DG-SANTE will conduct a comprehensive verification of factors such as broodstock control procedures, water quality, and the use of chemicals and antibiotics during farming. This is to ensure that shrimp exported to the EU not only fully meet requirements but also satisfy the increasingly high demand for quality and food safety.
Localities and enterprises have also proactively prepared thoroughly, reviewed records, and strengthened management of aquaculture facilities. The issuance of codes for farming areas and stricter management of violating enterprises have also been promoted to ensure compliance with international regulations.
CONFIDENTLY FACING THE CHALLENGE
Although many challenges remain, Vietnam’s shrimp industry is striving to overcome them and views the DG-SANTE inspection as an opportunity to affirm its position in the EU market. If it passes, Vietnamese shrimp products will not only gain the trust of EU consumers but also create a ripple effect, attracting interest from other markets.
Source: Nguoinuoitom.vn
