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Vietnam shrimp sales to EU to rise
June 22, 2018, 01:32 PM
(seafood.vasep.com.vn) The EU remained as the largest importer of Vietnamese shrimp, accounting for 18.2% of Vietnam’s total shrimp exports. Shrimp exports to this market in the first three months of this year reached US$134.9 million, up 13.5% over the same period last year. Exports to the three main markets (the Netherlands, Germany and Belgium) recorded the double digit growth. Exports to the Netherlands and Germany increased by 76.3% and 55.3%, respectively, while exports to Belgium grew by 18.9%.

Shrimp exports to the EU in the first quarter of this year still kept the growth as in 2017. Vietnam’s shrimp exports to the EU market got quite favorable because India - Vietnam’s big competitor in the EU market - has faced difficulties in exporting shrimp to the EU market. In addition, 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 European Union-Vietnam Free Trade Agreement (EVFTA) is in the process of coming into force. As committed, after the entry into force of the Agreement, Vietnamese goods, including shrimp products, will enjoy special preferential tariffs.

The EU accounts for about 30.6% of total shrimp import value of the world. Shrimp imports into the EU range from US$6-US$8 billion per year. In the 10 years (2007-2017), shrimp imports into the EU increased from US$5.6 billion to US$6.9 billion in 2017.

According to International Trade Center (ITC) data, in 2017, shrimp imports into the EU reached over US$6.9 billion; increased by 3.4% compared to 2016. Spain and France were the two largest shrimp buyers in the EU. The import value of shrimp into Spain hit US$1.3 billion, up 7%; that into France touched US$952.9 million, up 3.9% over 2016.

On the EU market, Vietnam shrimp has to compete mainly with the same item from India and Ecuador. While India tends to reduce shrimp exports to the EU due to some difficulties, Ecuador is increasingly promoting its exports to the market.

With high demand for consumption thanks to better economic growth than forecasted, exports of some products such as processed whiteleg shrimp, fresh/frozen black tiger shrimp to the EU expected to remain the good growth in the coming time.

Shrimp suppliers to the EU (Source: ITC, thousand US$)

Suppliers

2015

2016

2017

Variation (%)

Ecuador

               657,081  

         736,275  

        779,584  

5.9

Vietnam

               509,903  

         551,546  

        735,234  

33.3

India

               651,142  

         634,231  

        672,238  

6.0

Argentina

               486,106  

         519,717  

        565,935  

8.9

Netherlands

               421,593  

         521,242  

        429,630  

-17.6

Bangladesh

               357,482  

         343,337  

        422,000  

22.9

Denmark

               334,245  

         355,822  

        304,470  

-14.4

Greenland

               232,361  

         254,228  

        274,799  

8.1

Spain

               238,125  

         262,471  

        248,818  

-5.2

Belgium

               202,719  

         204,037  

        218,359  

7.0

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