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Good growth in VN shrimp exports at the beginning of the year
April 17, 2018, 12:55 PM
(seafood.vasep.com.vn) After the good growth in 2017, Vietnam’s shrimp exports in 2018 continued to go up. In January 2018, Vietnam exported shrimp to 49 markets with the export turnover of US$264.8 million, up 33.2% over the same period in 2017.

Shrimp exports to all major markets recorded the positive growth; in which exports to Australia experienced the highest growth of 169.7%; those to South Korea also reached the high growth of 81.3%. Sales to the three largest importing markets (the EU, the U.S, and Japan) grew by 13.4%; 12.1% and 3.7% respectively.

Shrimp exports in the first month of the year showed the good growth thanks to high demand in markets, stable shrimp prices and an expected rise in prices.

Whiteleg shrimp still occupied the main share in the structure of Vietnam’s shrimp exports, accounting for 68.9%, black tiger shrimp took up 18.5% and marine shrimp picked up 12.6%. In January this year, China was the largest importer of Vietnam black tiger shrimp with the value of US$15.2 million while the U.S was Vietnam's largest whiteleg shrimp importer with US$29.4 million.

Compared with January 2017, the proportion of whiteleg shrimp increased while the proportion of black tiger shrimp decreased. In January 2018, the export value of whiteleg shrimp increased by 43% while that of black tiger shrimp decreased by 7% compared to the same period last year.

For whiteleg shrimp, the export value of processed whiteleg shrimp (HS code 16) and live/fresh/frozen whiteleg shrimp (HS code 03) all increased by 43%. For black tiger shrimp, the export value of processed black tiger shrimp (HS code 16) decreased by 27% and that of live/fresh/frozen black tiger shrimp (HS code 03) fell by 4%.

The EU remained as the largest importer of Vietnamese shrimp, accounting for 18.6% of Vietnam shrimp exports to markets. Shrimp exports to this market in January this year reached US$49.4 million, up 13.4% over the same period last year. Exports to the three main markets in the bloc (the Netherlands, Germany and Belgium) recorded the double digit growth. Exports to the Netherlands and Germany increased by 65.1% and 62.2%, respectively, while exports to Belgium grew by 29%.

The EU is considered the most active market of Vietnam shrimp in 2017. In 2018, exports to this market still remain the upward trend. Vietnam’s shrimp exports to the EU are quite favorable as Indian shrimp (the main competitor of Vietnam in the EU) has been warned of antibiotic contamination and face the risk of EU banning imports. Besides, Vietnam shrimp has the advantage of gaining GSP from the EU that Thailand and China do not have. At present, the EU GSP tariff for Vietnam frozen raw shrimp (HS code 030617) is 4.2%; that for processed frozen shrimp (HS code 160521) is 7%.

In particular, the Free Trade Agreement with the European Union (EVFTA) is coming into force. Vietnam will have more opportunities to promote shrimp exports to the EU after the entry into force of this Agreement. As committed, after that, Vietnamese goods, including shrimp products, will enjoy special preferential tariffs.

Japan stayed as the second biggest importing market of Vietnam shrimp, taking up 17% of Vietnam's total shrimp export turnover to markets. The export value to Japan in January this year hit nearly US$45 million, up 3.7% over the same period in 2017.

Japan is considered as the market with the most stable consumption among major importing markets of Vietnam shrimp. Japanese buyers have high demand for Vietnam shrimp while the exchange rate is favorable, making shrimp imported from Vietnam cheaper than other countries. In addition, the export enterprises have improved in terms of quality and processing methods which facilitated exports to the Japanese market.

In January 2018, the U.S rose to the 3rd rank from the 4th rank in 2017. Exports to the U.S in the month totaled US$40.7 million, up 12% from the same period in 2017.

Exports to the U.S slowed down because enterprises were imposed anti-dumping tax when exporting to this market. In addition, India boosted shrimp exports to the U.S to offset the decline in other major markets, which drove the market share of Vietnam shrimp in the U.S market to decline.

In January this year, shrimp exports to Australia grew impressively by 169.7% to nearly US$11 million. The demand for shrimp in the market is quite high due to limited catch and processed production of shrimp in the country. Shrimp consumption increased rapidly while domestic supply was not enough to meet demand.

Recently, the Australian Department of Agriculture and Water Resources sent a delegation to Vietnam to inspect and evaluate the process and quality of shrimp production in Vietnam. Australian importers appreciate Vietnam shrimp very well. Early evaluations of safe and good production have shown the prospect of Vietnamese whole shrimp exports to Australia. 

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Specialist on Shrimp market
Ms Kim Thu
Tel: 84.24.3771.5055 (ext 203)
Portal of Vietnam Association of Seafood Exporters and Producers (VASEP)
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