Analysts expect that in the coming time, the level of the impact of Covid-19 will gradually decrease and with the support of Free Trade Agreements (FTAs), the main consumption channels of seafood products will be resuming operations gradually, supporting growth momentum for this sector in 2021.

Specifically, according to the analysts of FPT Securities Joint Stock Company (FPTS), Vietnam is forecasted to continue increasing shrimp production in 2021, reaching about 730,000 tons, up 4%. Therefore, a stable supply of shrimp will be an advantage for Vietnamese shrimp exporters to continue increasing their market share in export markets.

FPTS experts also forecast that, in 2021, the price of export shrimp is unlikely to increase sharply, when the consumption demand is still difficult to predict and depends heavily on the recovery of major consumption channels. Meanwhile, competitive pressure will increase, when global shrimp production is forecast to increase again and with it the development of the trend of diversifying export markets to reduce the risks of major  world shrimp exporter nations.

The Vietnam Association of Seafood Exporters and Producers (VASEP) forecasts that seafood exports in 2021 will have better results than in 2020, estimated at $ 8.8 billion, up nearly 5%.

The production of cultured pangasius in Vietnam is also forecasted to continue to increase, while the output and export selling prices depend heavily on the purchasing power of consumers in the main consumption channels. FPTS expects that the export volume of pangasius will recover, thanks to the gradually warming demand after a long period of silence from restaurants, hotels and resorts when the Covid-19 epidemic in markets of main exports, such as China, the US, EU, ... are gradually controlled.

In addition, experts said that Vietnam's seafood exporters are increasingly making efforts to focus on value-added processed products, meeting the conditions of food safety and hygiene, traceability will contribute to boosting Vietnam's seafood export value in 2021.