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Jan-Aug 2017: Up 21% in Vietnam shrimp exports
October 23, 2017, 09:07 AM
(seafood.vasep.com.vn) As of August 2017, Vietnam’s shrimp exports amounted to US$2.3 billion, up 21.3% over the same period in 2016.

Vietnam’s shrimp exports rebounded thanks to a rise in demand from major importing. The area of ​​brackish water shrimp farming in the first 8 months of the year estimated at over 679,000 hectares, up 4.2% over the same period last year; with the yield of over 363,000 MT, up 21.4% year on year.

In Vietnam's shrimp export structure, shipments of whiteleg shrimp remained to account for the highest proportion of 64.2%; those of black tiger shrimp were 24.5% and those of marine shrimp took up 11.2%. The export proportion of whiteleg shrimp increased from 60.4% in Jan-Aug 2016 to 64.2% in the period, that of marine shrimp increased from 8.2% to 11.2% and that of black tiger shrimp dipped from 31.4% to 24.5%. Sales of whiteleg shrimp hit US$1.2 billion; up 29% while those of black tiger shrimp reached US$605.9 million; down 5% over the same period last year. Of that, exports of processed black tiger shrimp witnessed the deepest decrease of 29% year on year.

Top 10 main importers of Vietnam shrimp included the EU, Japan, China, the U.S, South Korea, Canada, Australia, ASEAN, Taiwan and Switzerland. Of that, exports to most of these markets showed the positive growth but the U.S.

EU

According to data from Vietnam customs, in the first 8 months of 2017, the EU became the largest buyer of Vietnam shrimp. Vietnam’s shrimp exports to the EU in the period reached US$483.6 million, increasing by 30% year on year.

Through Aug 2017, exports to top 3 largest shrimp importers (the UK, the Netherlands, Belgium) in the EU posted the 2-digit growth of 46.5%; 47.8% and 34.1%, respectively. Vietnam’s shrimp sales to the EU currently were positive as EU consumers prefer value-added seafood products and increase imports to meet the demand of year-end festivals.

This is a good sign, which facilitates Vietnam’s shrimp exports to this market in the last months of the year in the context of the Vietnam-EU Free Trade Agreement (EVFTA) is coming into effect.

In the first half of this year, EU shrimp imports from other suppliers including Vietnam benefited from the Free Trade Agreement (FTA) between Ecuador and the EU. Each year, the EU imports about 40,000 MT of whiteleg shrimps with the tariffs of 0% under the tariff-quota system. This will help to boost Vietnam’s shrimp exports to the EU.

In addition, the EU is stepping up inspections of shrimp lots from India and tends to reduce shrimp imports from the country. While India is Vietnam's main competitor in the EU market, imports into the EU from Vietnam expected to rise to offset the decrease in imports from India.

The U.S

The U.S dropped to the 4th rank in top leading shrimp importer of Vietnam in the first 8 months of this year. Vietnam’s shrimp exports to the US valued at nearly US$416 million; down 4.4% over the same period in 2016.

Shrimp shipments to the U.S in the first half of this year were on the downward trend due to a climb in the anti-dumping duties that the Department of Commerce (DOC) announced in the preliminary decision on its 11th administrative review (POR11) and the dollar's depreciation due to the impact of President Donald Trump's new policies on domestic production protection.

In addition, the strong competition from India (Vietnam's main competitor in the U.S) has also reduced Vietnam’s shrimp exports to the market.

Vietnam’s shrimp sales to the U.S tended to go up from May to August this year. Vietnam’s shrimp exports to the market in the last months of the year forecasted to increase thanks to high demand at the end of the year.

Thanks to the good demand from Asian markets (Japan, China, South Korea) and the EU, Vietnam’s shrimp exports in 2017 are projected to total US$3.4 billion; up 6% compared to 2016.

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