Up 10.6% in Vietnam shrimp exports to Taiwan

In May 2017, Vietnam’s shrimp exports to this market eyed US$5.9 million, an increase of 54.7% year on year. The figure in the first five months of this year was US$18.7 million, up 10.6% from a year before.

In the period, Vietnam’s shrimp exports to Taiwan reported the positive growth in the four months except for January 2017 with a year-on-year drop of nearly 46%. In a year, shrimp exports to Taiwan usually peaked between June and August.

Vietnam’s shrimp exports to Taiwan for three years (2014, 2015,2016) witnessed the year-on-year falls of 3.8%, 30.3% and 20.8%, respectively.

According to the International Trade Centre (ITC), in 10 years (2007-2016), shrimp imports into Taiwan rose continuously from over US$47 million to over US$197 million, an increase of 319%. In 2016, Vietnam was the largest supplier of shrimp to Taiwan, accounting for 16.1% of total shrimp imports into this market, followed by China, Nicaragua and Thailand with the share of 16%, 15.6% and 11.5%, respectively.

In the first four months of 2017, Vietnam ranked the 3^rd in top shrimp suppliers to the market, behind China and Thailand.

On the Taiwan market, Vietnam shrimp has a competitive price over other Asian suppliers. The average import price of Vietnam shrimp in 2016 quoted at US$5.8/kg; that from Thailand and Malaysia were US$7.2/kg and US$6.5/kg, respectively.