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Shrimp imports into the US increased slightly
Associated News
Shrimp imports into the US increased slightly
December 02, 2019, 04:43 PM
(seafood.vasep.com.vn) According to the latest data of the US Department of Agriculture, in the first 8 months of 2019, the US imported 432,820 tons of shrimp, worth US $ 3.6 billion, up 1% in volume and 5% in value over the same period in 2018. Top 6 largest shrimp suppliers to the US included India (accounting for 38% of the total import value of shrimp into the US), Indonesia (19.5%), Ecuador (10.3%), Vietnam (10.1 %), Thailand (7.7%) and China (2%).

Among the top 6 largest shrimp suppliers to the US, in the first 8 months of 2019, in terms of volume, imports from India, Vietnam and Ecuador increased by 13%, 10% and 10% respectively. Imports from other suppliers decreased (Indonesia  and Thailand decreased by 3% and 10% respectively, while China plunged the most by 53% compared to the same period in 2018.

In the US market, India remained its lead in terms of market share at 39%, but the average price of Indian shrimp in this market decreased from US$9/kg in the first 8 months of 2018 to US$8.2/kg in the first 8 months of 2019. Vietnam shrimp prices slid from US$11/kg to US$10.4/kg. India's market share in the first 8 months of 2019 represented for 39%, up from 35.5% in the same period in 2018. Vietnam's market share rose from 9.2% in the first 8 months of 2018 to 10.1% in the first 8 months of 2019. Compared to Asian and Latin American shrimp suppliers to the US market, Vietnamese shrimp prices remained at high levels.

According to data from the US Department of Agriculture, export of breaded shrimp from Vietnam into the US in the first 8 months of 2019 reached 7,098 tons, worth US $ 50.8 million, up 57% in volume and 52% in value over the same period in 2018. This is considered a positive signal for Vietnamese shrimp exports to the US.

China, Thailand and Vietnam were the three main suppliers of breaded shrimp to the US, accounting for 31%, 26%, and 25% respectively of the total import value of US shrimp. Of the three main suppliers of breaded shrimp for the US, China is subject to a 30% tax, leading to a sharp decline of 33% in value and 27% in volume of breaded shrimp to the US over the same period in 2018.

Currently, traditional Vietnamese shrimp products (such as IQF) exports to the US are being competed over by Indian shrimp (price advantage) and Indonesian shrimp (not subject to anti-dumping tax). In that context, breaded shrimp is a product with a high profit margin, hence Vietnamese enterprises should continue to promote exports breaded shrimp to the US.

Shrimp imports of the US (Value: Thousand USD, Volume: MT, Source: FAS.USDA)

Suppliers

2018

Jan-Aug/2018

Jan-Aug/2019

Variation (%)

Value

Volume

Value

Volume

Value

Volume

Value

Volume

World

6,251,038

698,265

3,854,401

426,899

3,643,849

432,820

-5

1

India

2,224,758

248,833

1,369,720

151,296

1,408,225

170,860

3

13

Indonesia

1,215,831

132,348

811,628

86,650

708,816

84,321

-13

-3

Vietnam

623,967

59,007

355,360

32,356

368,100

35,532

4

10

Thailand

556,757

50,750

319,525

28,849

279,481

25,855

-13

-10

Ecuador

526,681

75,968

360,591

51,522

374,778

56,470

4

10

China

339,669

50,845

206,188

29,930

75,618

13,984

-63

-53

Mexico

282,618

24,884

113,000

9,454

144,698

13,251

28

40

Argentina

120,619

11,033

75,389

6,836

92,264

8,127

22

19

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