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Slight growth in Vietnam shrimp exports
October 12, 2018, 03:05 PM
(seafood.vasep.com.vn) After a slight decrease of 5% in QII/2018, Vietnam’s shrimp exports in the first month of QIII decreased by 20.3% to see US$294.5 million. The figure in the first 7 months of this year estimated at US$1.9 billion, a slight rise of 0.2% over the same period last year.

Up in whiteleg shrimp exports

Sales of whiteleg shrimp remained to occupy a large share of 67.6% in Vietnam’s total shrimp exports, those of black tiger shrimp took up 23.4% and those of marine shrimp picked up 8.9%. Compared with the first half of 2017, the proportion of whiteleg shrimp increased while that of black tiger shrimp decreased.

In the first 7 months of 2018, the export value of whiteleg shrimp increased by 7%, while that of black tiger shrimp fell by 8% and that of marine shrimp dropped by 20% compared to the same period last year.

Down in shrimp exports in July

In July this year, Vietnam’s shrimp exports to major markets decreased compared to July last year. Exports to China fell by 47% while those to Japan and the U.S decreased by 15% and 18%, respectively. Export to the EU and South Korea also decreased by 15% and 10%, respectively.

The fall in shrimp exports in QII/2018 was believed to be driven by the impact of the drop in raw shrimp prices, which has affected the export price; meanwhile, high inventories also resulted in lower import orders from major markets.

The domestic raw shrimp price in QII/2018 decreased compared with the previous months. The price in the major producing countries such as India, Thailand, Indonesia, and China ... also fell sharply in the context of the bulk of the harvest which led to an oversupply.

The EU

The EU remained as a large importing market of Vietnamese shrimp in the first 7 months of this year, accounting for 24.9%. Vietnam’s shrimp exports to EU grew well in the first 6 months of the year. However, exports to this market in July began to fall by 14.6% to reach US$74 million. Exports to the EU as of July this year reached US$479.8 million, up 26% over the same period last year.

Exports to the three major markets (the Netherlands, the UK, Germany) rose by 46%, 20% and 36% in the first seven months of this year. Vietnam’s shrimp exports to the EU market still enjoy GSP incentives and benefits when the two competitors (India and Thailand) strongly reduced their exports to this market.

The U.S

In the first seven months of this year, Vietnam’s shrimp exports to the U.S decreased by 9.5% to hit US$311.8 million. A rise in the anti-dumping duty partly caused a fall in Vietnam’s shrimp exports to this market.

In terms of total U.S shrimp imports, after a continuous increase in the last 14 months, the U.S shrimp imports had decreased in May and June this year. High inventories and difficulties in all major sources had reduced shrimps supplies to the U.S market.

In the first half of this year, the U.S imported 303,637 MT of shrimp, worth by US$2.8 billion, up 6% in volume and 3% in value over the same period in 2017. Top 5 biggest suppliers to the country included India (21.7%), Ecuador (12.2%), Thailand (7.2%) and Vietnam (7.1%).

In the remaining months of this year, when the demand from key markets and shrimp prices stabilize, Vietnam’s shrimp exports for the full year expected to reach about US$4 billion.

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