Shrimp exports to the UK rose sharply

Shrimp imports of the UK is declining, but Vietnamese exporters are doing well in this market.

Statistics from Vietnam General Customs , in May, Vietnam shrimp exports to the UK reached US$ 9.4 million, doubled from the previous month. Through May, total shrimp exports to this market reached US$ 36.2 million, up 50.9% year-on-year. 

UK shrimp imports have shown good growth in the last 5 years. According to the International Trade Centre (ITC), in the first 4 months of this year, shrimp imports fell 2.9% as economy in the EU has not recovered while the euro depreciated against the dollar causing importers to pay higher for the same commodity.

Vietnam is reported to be the 5th biggest shrimp supplier to the market in the initial 4 months of this year, after Bangladesh, India and Canada. Vietnam holds 10% of shrimp market share in the UK.

 Vietnamese shrimp is competing with those from India, Thailand or Indonesia. From January to April, shrimp imports into the UK from Vietnam grew 16.8%, while imports from India, Indonesia, Thailand declined 20%, 30% and 22%, respectively .

In June 2014, British newspaper- the Guardian wrote: "The Thai fishing industry is built on slavery, with men often beaten, tortured and sometimes killed - all to catch 'trash fish' to feed the cheap farmed prawns sold in the west." Thai shrimp industry is then heavily affected.  EU's generalized scheme of preferences (GSP) came to an end in 2014 and tax on shrimp from Thailand increased to 20%. From January 2015, tax on raw shrimp increased to 12% from the previous 4%.

In the late 2014, India faced warnings from the EU due to increases in the use of antibiotics on imported shrimp, therefore, it is unlikely that shrimp imports from India to EU will rise in the near future.

In mid-June 2015, demand for small-sized warm water shrimp rose as prices for coldwater shrimp were high at GBP 8/ kg. A shrimp processor in the UK expected to switch from coldwater shrimp into warm water shrimp.

More fish is on the plate as British cares for their health. Warm water shrimp and other new types of seafood are on the racks beside traditional ones. 

Shrimp exports to the UK and other European markets are expected to increase, however, the speed of increase is slower due to debt crisis in Greece.