(seafood.vasep.com.vn) After the slump in QI/2017, Vietnam’s shrimp exports in QII/2017 inched up 28.2% to eye US$938.9 million. Thanks to the good growth in Apr-Jun 2017, Vietnam’s shrimp exports in the first half of 2017 gained US$1.6 billion, up 15.2% over the same period in 2016.
In QI/2017, the shortage of raw shrimp, a rise in raw shrimp prices as well as the ban on shrimp imports in Australia drove the year-on-year 0.1 percent drop in Vietnam’s shrimp exports.
In QII/2017, the domestic supply of raw materials was significantly improved, while shrimp supplies in some major producing countries and importing markets decreased. In addition, Australia step by step loosened the ban on shrimp imports, which helped Vietnam’s enterprises to boost shrimp exports in QII/2017.
Vietnams shrimp sales to most of major markets increased in the first half of this year, except for the U.S and ASEAN.
The position of top 5 biggest importers of shrimp has changed in the first half of this year. Of that, Japan outstripped the U.S to rank the 1st. The EU remained its second place. China held as the 3rd rank and the U.S dropped to the 4th rank.
Vietnam’s shrimp exports to the U.S after the good growth in the first three quarters of 2016, but then fell in QIV/2016 and continued the downward trend in QI/2017. Exports to this market recovered in QII/2017 but not enough to offset the decline in the first quarter. Therefore, exports to the market in Jan-Jun 2017 were down 7.5% to reach US$276.4 million.
The decrease in exports to the U.S was due to the impact of the DOC raising the antidumping duties on POR11, the depreciation of the dollar. In addition, strong competition from India (Vietnam's main competitor in the U.S) also partly reduced exports of Vietnamese shrimp to the market. Vietnam ranked the 5th in top largest suppliers of shrimp into the U.S, making up 7.8%.
Imports of frozen raw shrimp meat (HS code 0306170040) into the U.S picked the biggest share. India, Indonesia and Vietnam were top 3 leading suppliers of this item to the market.
Imports of frozen processed shrimp (HS code 1605211030) into the U.S made up the second largest share. Thailand, Vietnam and Indonesia top 3 largest suppliers of this item to the market.
Growth trends in the first half of this year will have a positive impact on Vietnam’s shrimp exports in the coming time. Vietnam’s shrimp exports in QII/2017 expected to continue the rise, especially when demand in markets increases sharply during Christmas and New Year.