Shrimp processing plant. (Photo: nhandan)

Shrimp exports maintain a growing trend

VIET NAM
Tuesday, October 25, 2016, 02:40 (GMT + 9)

Vietnamese shrimp exports maintained a growing trend thanks to the stable demand from major markets such as the United States, the European Union (EU), China, South Korea and to the global shrimp price also on the rise amid the decline in the global supply of the resource, according to Vietnam Association of Seafood Exporters & Producers (VASEP).

In August 2016, Vietnam's shrimp exports reached USD 306.1 million, representing a 12.3 per cent increase over the same month last year.

And in the first eight months of this year, the accumulated value of sales abroad reached USD 1.9 billion, which is 5.8 per cent more than in the same period in 2015.

The proportion of whiteleg shrimp in total exports of the resource rose thanks to the rise in production and farming area while those of black tiger and marine shrimp declined.

In the analysed eight-month period, whiteleg shrimp sales represented 60.4 per cent of total exports, an year-on-year increase by 10 per cent. However, black tiger shrimp sales decreased 0.5 per cent and accounted for 31.4 per cent.

The export value of processed whiteleg shrimp reported the largest increase of 12 per cent, while canned marine shrimp showed the biggest drop of 66 per cent with modest value of USD 1.8 million.

Sales of Vietnamese shrimp to the top five main markets reported an increase except for Japan, which dropped by 6.4 per cent. Exports to China experienced the sharpest increase of 36.9 per cent, to the US grew by 16.4 per cent; to South Korea increased by 13.5 per cent and to the EU these exports experienced a 7.1 per cent growth.

The US was the market with the biggest share in terms of value, with purchases for USD 435.3 million, a proportion of 22.5 per cent of total exports of shrimp from Vietnam in the period from January to August.

The import shrimp price into the US rose due to lower supply from India, Indonesia, Ecuador, Thailand. Demand for black tiger shrimp US imports increased in the context of lower supply from in India, Indonesia.

Shrimp exports to the EU made USD 372 million, which is 7.1 per cent more than in the January-August period last year. Within the bloc, the largest growth, of 29 per cent, was recorded in the Netherlands. The UK continued being the largest market in the UK, with 8.4 per cent growth.

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