China to boost shrimp farming cultivation to Venezuela

Venezuela has signed an agreement with China to import shrimp farming methods over the next 10 years, according to China's Ministry of Agriculture.

Venezuela's central government will not import shrimp, as the country is essentially a producer nation with an adequate level of production, the Socialist Institute of Fisheries and Aquaculture (INSOPESCA) announced last month.

However, China hopes the agreement will pave the way for future export possibilities to the South American nation. The Chinese government will initiate a plan for leveraging shrimp production and consumption, intended to generate new jobs domestically and abroad.

The nations will work together to produce a Communitarian Shrimp Farm in Venezuela within the next decade. China's shrimp demand is also expected to increase by up to 30 percent this year, although exports may fall by as much as 20 percent versus last year's profit-making numbers.

Despite difficulties during the global recession, conditions for shrimp farming in China this year are more favorable than in past years, which was faced with heavy snow, flood disasters, earthquakes, drought and high winds. China exported 7,610 metric tons of shrimp valued at more than USD 43 million (EUR 31 million) in January and February. U.S. seafood imports from China, led by shrimp and catfish, exceeded USD 2 billion (EUR 1.4 billion) last year, representing more than half of total U.S. food imports from China.

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