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Shrimp exports to the US expected to rise about 20%
October 02, 2020, 04:38 PM
(seafood.vasep.com.vn) According to data from Vietnam Customs, in the first 6 months of 2020, Vietnam's shrimp exports to the US reached US$323.3 million, up 29% over the same period in 2019. Despite the affection by the Covid-19 pandemic, Vietnam's shrimp exports to the US grew quite steadily in the first 6 months of 2020. The US was the only market among Vietnam's main shrimp importers to record continuous positive growth in all months of the first half of 2020.

In the US market, in the first 6 months of 2020, Vietnamese shrimp has a competitive advantage over rival supplies thanks to faster production stability after COVID-19 while other suppliers such as India and Ecuador were still under a heavy impact. Shrimp processors and exporters of India and Ecuador were not only affected by decreasing orders but also domestic production was delayed due to the shutdown rule, lack of workers in factories as they were not working for fear of infection.

According to the National Oceanic and Atmospheric Administration (NOAA), India was still the largest supplier of shrimp to the US for many years, accounting for 40% of total shrimp imports to the US. Indian shrimp exports to the US began to decline in May 2020 after increasing in the previous months. Indian shrimp exports to the US in May 2020 reached 8,560 MT, worth $72.1 million, down 58% in volume and 56% in value compared to May 2019.

Ecuador was still the third-largest supplier of shrimp to the US. In May 2020, exports to the US reached 5,773 MT of shrimp, worth US$33.6 million, down 25% in volume and 32% in value compared to May 2019.

With the advantage of low anti-dumping tax, Vietnam's shrimp exports to the US in the whole of 2020 are forecasted to increase by about 20% compared to 2019.

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Ms Kim Thu
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