Amid rising tensions in the Red Sea and the EU’s commitment to remove tariffs, there’s a promising opportunity for Vietnam’s shrimp exports to Europe, albeit with strict conditions ahead.

The extreme drought this year has resulted in water shortage and increasing salinity, making shrimp farmers face a serious profit loss due to shrimp mass deaths.

With available potential and advantages, Bac Lieu has been developing many shrimp farming models applying high technology, being environmentally friendly, enhancing the value chain and becoming a leading locality in the country in this field.

The US Department of Commerce (DOC) has received a request for anti-dumping and anti-subsidy investigations on frozen warmwater shrimp imported from a number of countries, including Vietnam.

Vietnam has become the world's second largest shrimp supplier, with export value accounting for 13-14% of the globe's total shrimp export value.

Shrimp exports are forecast to hit roughly US$3 billion as the first five months of the year witnessed shrimp exports rake in US$1.2 billion, a drop of 34% compared to the same period from 2022.

The shrimp industry needs a general solution from the production of shrimp seeds to the processing stage to achieve this year's shrimp export target.

Farmers, who want shrimp to grow rapidly to have early harvesting, are trying to increase density and yield. But this is doing more harm than good.

The EU is a potential market for Viet Nam's shrimp industry next year because it is the largest shrimp market in the world, while the shrimp production of this bloc has not met its demand, according to domestic seafood experts.