Shrimp exports hit high at over US$ 4 billion in 2014

(vasep.com.vn) Data from Ministry of Agriculture and Rural Development revealed that seafood export value in 2014 is estimated at US$ 7.9 billion, up 18% year on year.

It is shrimp exports that led to this growth. Shrimp exports is expected to reach the highest recorded value, at over US$ 4 billion, up 25% year on year. In Vietnam, shrimp is the seafood export item with the highest growth rate.

The growth of shrimp export offset the decline in export of some other items and therefore kept the total seafood export value increase. Export value of whiteleg shrimp continued to sharply increase and by the end of 2014, export value of the shrimp nearly doubled that of black tiger shrimp.

The US continued to be the leading market for Vietnam shrimp exports, despite the fall in shrimp exports to the US in some last months of the year. Shrimp exports to the EU continued its increasing trend. The EU became the consumption market with the highest growth among major markets for Vietnam shrimp.

The US, Japan and the EU are three major markets for shrimp exports. Markets such as South Korea, Australia, Canada witnessed double digit growth.

As bilateral agreements with the major markets are about to be signed, especially the Free Trade Agreement between Vietnam and EU, from the beginning of 2015, Vietnam seafood exports will enjoy more tax incentives. This however also comes with high requirements from international standards.

According to Mr. Nguyen Hoai Nam, Deputy General Secretary of VASEP, seafood import demand from the US, EU, Japan is high but Vietnam has to be competitive by improving quality of products. Only by this way can Vietnam seafood exports maintain growth and become better.

Brackish water shrimp rearing also rose to catch up with exports. This is considered as a highlight in aquaculture in 2014. As shrimp farming in Thailand and China still suffered from diseases, intensive rearing has been developed. To offset the shortages in Thailand and China, there was a big shift from black tiger shrimp to white leg shrimp in Vietnam. 

Reportedly, in 2014, brackish water shrimp was farmed in the total area of 685,000 hectares, consisting of 590,000 hectares for black tiger shrimp and 95,000 hectares for whiteleg shrimp. 

 


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  • SPECIALIST ON SHRIMP MARKET

Ms Kim Thu

Email: kimthu@vasep.com.vn

Tel: 84.24.3771.5055 (ext 203)

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