(vasep.com.vn) After the U.S. Department of Commerce (DOC) decided to levy countervailing duty rate of 4.52 percent on Vietnam shrimp while being subjected to anti-dumping duty, EU that has just recovered from regional economic crisis is planned to be an attractive market for Vietnam shrimp exporters.
Recovering shrimp exports to EU
In 2012, Vietnam’s shrimp exports to the region reported continuous dive from the early year until late April 2013 due to low demand caused by regional economic downturn. Since May 2013, Vietnam’s shrimp exports to EU started to recover with the monthly growth of 12.5 percent.
In the first 7 months of 2013, shrimp shipment to EU registered over US$176.3 million, up 2.1 percent from the same period last year.
Among EU block, the U.K and France are two out of three largest importers of Vietnam shrimp. These two markets have reported positive growth in shrimp imports from Vietnam since the early 2013. In which, Vietnam shrimp exports to the U.K advanced continuously with the growth of 46 percent per month; shrimp exports to France also reported the growth of 83.2 percent in one month on par with the same period last year.
Despite continuous decline in shrimp exports to Germany in recent months, the market remains the leading position in shrimp imports from Vietnam. In July 2013, shrimp shipment to Germany surged 2 percent compared to that of July 2012. In Jan-Jul 2013, shrimp exports to the market reached over US$42 million.
France - a potential market
According to Vietnam Customs, in Jan-Jul 2013, Vietnam exported over US$29.6 million of shrimp to France. The figure represented an increase of nearly 40 percent from the same period of 2012 in which black tiger shrimp accounted for 41 percent of Vietnam’s total shrimp exports to the market.
According to Globefish’s report, among EU block, France and Italy are two among leading shrimp importers that increased shrimp imports in 2013. In Jan-Mar 2013, shrimp imports into France were up 1 percent from the same period of 2012 and imports from its main origins (except Thailand) reported a slight rise.