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Factors help promote Vietnam shrimp exports in 2017
March 02, 2018, 09:01 AM
(seafood.vasep.com.vn) Vietnam’s shrimp exports in 2017 recorded a remarkable growth with a growth of 22.3% compared with 6.7% in 2016. Exports to all major markets posted the positive growth.

In December 2017, Vietnam’s shrimp exports valued at US$339.8 million, up 27.8% over the same period in 2016. The figure in the year totaled US$3.85 billion, up 22.3%. This showed the efforts of enterprises in the context of complicated market situation. Moreover, the area and output of shrimp rose in the country to ensure the supply of raw materials for processing plants. The exchange rates of Yen, EUR and CNY increase against the USD also facilitated Vietnam’s shrimp exports.

According to the Directorate of Fisheries (D-Fish), the total output of shrimp in the country in 2017 reached 723.8 thousand MT. Of that, brackish water shrimp output reached 683.4 thousand MT including 256.4 thousand MT of black tiger shrimp and 427 thousand MT of whiteleg shrimp. The area of ​​brackish water shrimp farming was 721.1 thousand ha, of which that for black tiger shrimp was 622.4 thousand ha and that for whiteleg shrimp was 98.7 thousand ha.

Demand from key importing markets (EU, China, Japan, South Korea ...) increased for year-end festivals. Some competing countries have difficulties in production and exporting markets. For example, Thailand stopped imports of Indian shrimp which affect not only India but Thailand. Since October 2016, India has been subjected to subject to a 50% inspection of shrimp exports to the EU and the country is at risk of the EU ban on imports. Thai and Indian shrimp production is forecasted not to increase this year due to disease and adverse weather. This is considered as the factors which facilitated Vietnam’s shrimp exports this year.

In 2017, Vietnam’s shrimp exports to major markets have grown well except the U.S. The EU market has risen to rank the 1st while the U.S has fallen to the 4th rank. Among the main importing markets, shipments to China witnessed the highest growth of 56.8%.

Exports of whiteleg shrimp occupied the largest proportion of 65.6%; those of black tiger shrimp accounted for 23%, the rest was marine shrimp with 11.6%. Exports of whiteleg shrimp and marine shrimp increased while those of black tiger shrimp slightly decreased compared to the same period last year. Of that, shipments of live/fresh/frozen marine shrimp (HS code 03) experienced the highest growth.

The EU

In 2017, the EU has raised to the 1st rank in top shrimp importers of Vietnam. Exports to this market valued at over US$862.8 million, up 43.7% year on year. The Netherlands was the largest importer of Vietnam shrimp in the EU. Out of the three main buyers of Vietnam shrimp in the bloc (the Netherlands, the UK and Germany), sales to the Netherlands posted the highest growth of 71.6% (US$224.2 million), followed by the UK and Germany with the rises of 55.5% and 52.1%, respectively.

Due to the high price of coldwater shrimp and a reduction in supplies, high demand for festivals at the end of the year boosted imports of Vietnam shrimp into the EU.

In 2017, Vietnam shrimp had advantage of exports to the EU. In the year, Vietnam’s shrimp exports to the EU are accorded GSP (generalized system of preferences) rights while Thailand and China do not have this advantage.

The U.S

In 2017, Vietnam’s shrimp exports to the U.S hit US$659.2 million; down 7% over the same period in 2016. Exports to the US decreased due to the higher anti-dumping tax in POR11.

Total shrimp imports into the U.S as of November 2017 reached US$5.94 billion, up from US$5.18 billion in the same period of 2016.

China

Exports to China witnessed the highest growth among the main importing markets of Vietnam shrimp with 56.8% and eyed US$683.2 million. With this growth, China expected to overtake Japan as the second largest buyer of Vietnam shrimp in the first quarter of 2018.

With the world price of shrimp remained stable in the first two months of 2018, Vietnam’s shrimp exports in the first quarter of 2018 are projected to keep the upward trend with an increase of about 5%.

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