(vasep.com.vn) Shrimp import demand from major markets fell and shrimp prices dived. Volatility in currencies exchange rate against the USD significantly shrimp export. As a consequence, Vietnam shrimp export in Q1/ 2015 plummeted.
In Q1/2015, Vietnam shrimp exports reached US$ 798 million, down 28.1% year on year. Exports to most major markets fell sharply. In particular, exports to the US fell by 55.8%, and those to Japan decreased by 27.6%.
Shrimp prices in the US market, especially vannamei costs reduced sharply. Statistics showed that US shrimp imports in January and February increased by only 5% by volume but decreased by 11% by value.
Average US import price of shrimp fell in two consecutive months in this year. From US$ 12/ kg in the last quarter of 2014, it fell to US$ 11/ kg in January 2015 and then down to US$ 10/ kg in February 2015.
Furthermore, the US dollars rose sharply against other currencies that America become "destination" of so many shrimp suppliers.
By the end of March, Vietnam shrimp exports to the US declined to US$ 116.3 million, from US$ 263.3 million in the same period last year.
Peeled frozen shrimp is the most imported in the US, accounting for over 50% of US shrimp imports. Vietnam is now the 3rd largest supplier, after Indonesia and India.