(seafood.vasep.com.vn) The UK stayed as the third largest shrimp importer in the EU, behind Spain and France. The UK mainly imports shrimp for domestic consumption. In the past three years, the UK has been one of potential markets of many Vietnamese shrimp exporters.
Shrimp imports into the country hit about US$900 million per year. For the 10 years (2008-2017), shrimp imports into the UK from 2014 up to now posted a higher increase over those in the period from 2014 backwards.
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In the first three months of this year, shrimp imports into the UK reached US$196.3 million, up 6.4% over the same period in 2017. Vietnam held as the largest supplier of shrimp to the UK, accounting for 24% of total UK’s shrimp imports. India ranked the second with 17%. Among the main shrimp suppliers to this market, the UK’s shrimp imports from Vietnam, India and Thailand increased by 61%, 26% and 36%, respectively, while imports from Bangladesh and Indonesia declined by 53% and 35%, respectively. Coldwater shrimp imports from Canada to the UK also decreased by 3%. In the period, the average import price of shrimp from Vietnam into the UK got quite competitive compared to other suppliers such as Bangladesh and Thailand.
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The average import price of shrimp into the UK, Jan-Mar 2018 (US$/kg)
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Supplier
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Jan
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Feb
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Mar
|
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World
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12
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11
|
11
|
|
Vietnam
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12
|
11
|
12
|
|
India
|
11
|
10
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9.80
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Denmark
|
10
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10
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11
|
|
Bangladesh
|
13
|
12
|
12
|
|
Thailand
|
13
|
12
|
12
|
|
Indonesia
|
13
|
9.59
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9.63
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|
Canada
|
11
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11
|
11
|
|
Netherlands
|
15
|
17
|
17
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In the EU, the UK stayed as Vietnam's second largest shrimp importer behind the Netherlands, accounting for 31% of Vietnam's shrimp exports to the EU and accounting for 5.6% of Vietnam's shrimp exports to all markets. In 2017, Vietnam’s shrimp exports to the UK touched US$210.6 million, up 55.5% over 2016. The figure in the first three months of 2018 estimated at US$41.4 million, up 49% compared with same period last year.
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Over the last three years, Vietnam’s shrimp exports to the UK have grown steadily from US$114.6 million in 2014 to US$210.6 million in 2017, an increase of nearly 84%. Shrimp exports to the UK tended to increase as the UK boosted imports of warmwater shrimp thanks to reasonable prices over coldwater shrimp. The price of coldwater shrimp was on the upward trend due to a fall in quotas.
The UK continued to be one of potential importing markets of Vietnam in the EU because exporters to this market also enjoy the GSP.