Shrimp packaging at a processing plant. (Photo: VASEP)

Vietnamese shrimp exports grow

VIET NAM
Tuesday, July 05, 2016, 03:20 (GMT + 9)

Vietnamese shrimp sales increased by 5.9 per cent year on year in the first five months this year, to USD 1.1 billion thanks to higher demand from major markets favoured by stable supply-demand and lower inventories, according to Vietnam Association of Seafood Exporters & Producers (VASEP).

VASEP also reported that this increase took place despite sales of the species reached a slight decrease in May, to 0.4 per cent, on generating USD 241.8 million.

Exports to China & Hong Kong showed the sharpest rise of 34.3 per cent; followed by the US with 17.4 per cent.

On the other hand, exports to Japan, Australia, Canada, ASEAN, Taiwan and Switzerland declined.

Whiteleg shrimp took the largest proportion of 57.8 per cent, followed by black tiger shrimp with 33.7 per cent and the next was marine shrimp with 8.5 per cent.

Compared to Jan-May 2015, the proportion of whiteleg shrimp and black tiger shrimp rose while that of marine shrimp dropped.

Among total shrimp products for exports, exports of processed black tiger reported the highest growth of 32 per cent while exports of other canned shrimp reported the deepest dive of 54 per cent.

Among top markets of Vietnam shrimp, the US remained the top position with the proportion of 22.6 per cent out of total shrimp exports by Vietnam. EU ranked in second place with 18.9 per cent; followed by Japan and China with the respective proportion of 17 per cent and 16.6 per cent.

Shrimp exports to the US in the first five months of the year reached USD 249.3 million, an increase of 17.4 per cent year on year.

The US mainly imports frozen peeled shrimp. In the period from January to April, imports of the item into the US reached 72,881 tonnes, valued at USD 669.7 million, a 13 per cent growth in volume but 2 per cent drop in value.

Among the top five leading suppliers to the US in the first four months, shrimp imports from Vietnam grew 13 per cent in volume and equal in value on par with the same period last year.

While the US reduced importing Ecuadorian shrimp and raised importing shrimp from Vietnam, India, Thailand because these suppliers can meet demand of the US for skewered shrimp products with reasonable price.

Vietnam shrimp exports to the EU touched USD 208.4 million in the period from January to May 2016, an increase of 8.2 per cent year on year.

Among single markets in the EU bloc, Germany was the leading one, followed by the UK and the Netherlands. Shrimp exports to these 3 markets rose 4.3 per cent; 21.6 per cent and 9.4 per cent, respectively in which the UK reported the best growth.

Shrimp exports to China reported the most tremendous growth of 34.3 per cent with the revenue of USD 182.3 million. Due to the fall in shrimp production and higher domestic consumption, China is boosting shrimp imports from Ecuador and some major producers in Asia.

Factors of supply and demand are favoring for Vietnam shrimp exports. It is expected that Vietnam shrimp exports in the second quarter will reach USD 780 million, a 10 per cent growth year on year.
 
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