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Shrimp exports rose by over 10%
13:55 05/01/2021

An app that lets shrimp farmers to track shrimp growth from stocking through harvest, purely by taking pictures on their smartphone, is generating very positive reviews from farmers in Vietnam.

(seafood.vasep.com.vn) According to data from Vietnam Customs, in the first 6 months of 2020, Vietnam's shrimp exports to the US reached US$323.3 million, up 29% over the same period in 2019. Despite the affection by the Covid-19 pandemic, Vietnam's shrimp exports to the US grew quite steadily in the first 6 months of 2020. The US was the only market among Vietnam's main shrimp importers to record continuous positive growth in all months of the first half of 2020.

(seafood.vasep.com.vn) After a sharp decline in the first quarter of 2020 (-27%) due to the heavy influence of the Covid-19 epidemic, Vietnam's shrimp exports to China have recovered in the second quarter of 2020 (+ 13.5%). In the second quarter of 2020, shrimp exports to China reached more than US$ 157 million, up 13.5% compared to the second quarter of 2019. Accumulated in the first 6 months of 2020, Vietnam's shrimp exports to China reached US$ 226.7 million, down 2.9%.

Vietnam's shrimp sector looks set to emerge from the COVID-19 pandemic as "the winner", thanks to a fortuitous combination of events, speakers on Undercurrent News' latest webinar agreed.

(seafood.vasep.com.vn) South Korea was the 5th largest importer of Vietnamese shrimp, accounting for 10.7% of the total value of Vietnamese shrimp exports to markets. Although not increasing sharply, Vietnam's shrimp exports to South Korea grew positively in the first two quarters of 2020. In the second quarter of 2020, shrimp exports to South Korea reached US$91.2 million, up 4.9%. Accumulated in the first 6 months of this year, shrimp export turnover to South Korea reached US$162.7 million, up 4.9% over the same period in 2019.

(seafood.vasep.com.vn) In recent years, Vietnam has been the leading shrimp supplier to South Korea, accounting for 52 percent of the country’s total imports.

The export of the first batch of frozen shrimp to several European countries under the EU-Vietnam Free Trade Agreement (EVFTA) was marked with a ceremony in the south central province of Ninh Thuan on September 11.

(seafood.vasep.com.vn) In June 2020, Vietnamese shrimp exports reached US$ 349.9 million, up 19.2% compared to June 2019, which was the best growth since March 2020. Accumulative in the first 6 months, shrimp export reached US$ 1.5 billion, up by 5.7% year on year. This is an encouraging result in the context the Covid-19 epidemic is still ongoing in major markets. Notably, Vietnamese shrimp exports to two key markets, the US and China, in June still recorded positive growth. It is expected that Vietnamese shrimp exports to these markets will still grow well in the coming months.

(seafood.vasep.com.vn) In May 2020, Vietnamese shrimp exports reached US$330.2 million, up 0.6% compared to May 2019. In the first five months, shrimp export hit US$1.2 billion, up by 2.3% year on year. Export volume did not increase much, but shrimp export results in the first five months of 2020 are encouraging in the context that the Covid-19 epidemic is still ongoing in large markets. Notably, shrimp exports to the US and China recorded positive growth and it is expected that Vietnamese shrimp exports to these markets will still grow well in the coming months.

(seafood.vasep.com.vn) Canada ranked the 6th in Vietnam shrimp imports, accounting for 5.7% of total Vietnam's shrimp exports to markets. Vietnam's shrimp exports to Canada in the first four months of this year still recorded double-digit growth despite the context of the Covid-19 epidemic.

(seafood.vasep.com.vn) According to the International Trade Center (ITC), in the first four months of this year, shrimp imports into Japan reached US$ 638 million, down 0.5% from the same period in 2019. Japan was also one of the earliest affected in Asia by the COVID-19 pandemic, so the demand for shrimp imports of this market was somewhat affected by the epidemic. Among the top 5 key shrimp suppliers to Japan, shrimp imports into Japan from India lifted the most, imports from Vietnam and China slightly augmented meanwhile imports from Thailand and Indonesia fell.

Vietnam’s largest shrimp producer and exporter, Minh Phu Seafood, has had to lower expectations on its 2020 earnings and scale back its expansion plans as it adapts to the new business realities created by the COVID-19 pandemic.

Vietfish Organizer would like to say thank you for your participation at Vietfish 2020.

Vietnam's shrimp sector has been reaping the benefits of the country’s successful containment of the COVID-19 outbreak, with growth seen in export and farming activities.

(seafood.vasep.com.vn) Among the main export seafood products of Vietnam, while exports of pangasius, tuna, and seafood all dipped, Vietnam's shrimp exports in the first quarter of 2020 were still better with a slight growth in the context of COVID-19 pandemic remains complex worldwide. If the Covid-19 pandemic is resolved by the end of the second quarter of 2020, the world market reopens, Vietnam shrimp can take advantage of opportunities to export after the Covid-19 period.


SPECIALIST ON SHRIMP MARKET

Ms Kim Thu

Email: kimthu@vasep.com.vn

Tel: 84.24.3771.5055 (ext 203)

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