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China: Demand for shrimp imports remained stable
March 13, 2019, 03:06 PM
(seafood.vasep.com.vn) Contrary to the trend of 2017 with a growth rate of nearly 60%, Vietnam shrimp exports to China in 2018 witnessed a decline. From the 3rd position on Vietnam shrimp import markets in 2017, accounting for nearly 18%, this year, China dropped to the 4th position, accounting for nearly 14% of the total value of Vietnam shrimp export to the markets.

As of November 2018, shrimp exports to China only increased in January and March with the remaining months of export decreased by 2 digits rate. In the first eleven months of 2018, China was the market that recorded the strongest decrease in Vietnam shrimp imports among the main markets importing Vietnamese shrimp. Vietnam shrimp exports to China reached US$449.8 million, down 29.5% compared to the same period in 2017.

China reduced buying due to a lot of inventory from last year and with a drop in shrimp price so this market stopped before making large orders. Moreover, as China increasingly tightens import and export activities through border, the imports and exports of shrimp to China is also somewhat affected.

In 10 years (2008-2017), Vietnam shrimp export to China tended to grow well, with the next year higher than the previous year. China is the fastest growing shrimp market among the major markets importing Vietnamese shrimp during this period.

In terms of products, the proportion of exported tiger shrimp to China is always the highest compared to whiteleg shrimp and marine shrimp. As of November 2018, in the total structure of exported shrimp products to China, whiteleg shrimp accounted for 30.8% while tiger shrimp accounted for 64.7%. Export of black tiger shrimp to China in the first 11 months of 2018 increased by 14% while export of whiteleg shrimp decreased by 43% compared to the same period last year.

China is the 6th largest shrimp import market in the world, accounting for 3.5% of total world shrimp imports in 2017. The demand for importing shrimp for domestic consumption and re-export processing of China is still stable and shrimp is always the product that gains most attention in seafood exhibitions in China.

Vietnam ranked 8th among the main shrimp suppliers to China, accounting for 1.8% of the market share. Vietnam still has to compete with rivals in Asia such as Thailand accounting for 16.1% market share, India accounting for 9.7%, Indonesia accounting for 2% in 2017.

In terms of import prices, the price of shrimp imports from India and Indonesia is always the most competitive. The average import price from Thailand is the highest, followed by the price of Vietnamese shrimp.

With stable demand for shrimp and favorable geographical position, enterprises need to improve product quality and focus more on branding and packaging in accordance with the Chinese market to maintain exports to this market.

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Ms Kim Thu
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