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Shrimp exports to the US and China were positive in May 2020
August 04, 2020, 04:04 PM
(seafood.vasep.com.vn) In May 2020, Vietnamese shrimp exports reached US$330.2 million, up 0.6% compared to May 2019. In the first five months, shrimp export hit US$1.2 billion, up by 2.3% year on year. Export volume did not increase much, but shrimp export results in the first five months of 2020 are encouraging in the context that the Covid-19 epidemic is still ongoing in large markets. Notably, shrimp exports to the US and China recorded positive growth and it is expected that Vietnamese shrimp exports to these markets will still grow well in the coming months.

In the first five months of this year, whiteleg shrimp accounted for 69.5% of Vietnam's total shrimp exports, black tiger shrimp represented 19.2%, the rest were marine shrimp. The total value of whiteleg shrimp exports rose by 8% while that of black tiger shrimp fell by 16%. Export of processed whiteleg shrimp (HS code 16) and live/fresh/ frozen whiteleg shrimp (HS code 03) lifted by 13% and 5%, respectively. Other processed tiger shrimp exports (HS16) jumped by 18% while exports of live/fresh/frozen black tiger shrimp (HS03) declined by 19%. Dried marine shrimp exports (HS 03) surged the most by 109%. During the time of the Covid-19 epidemic, whiteleg shrimp exports with reasonable prices increased better than black tiger shrimp, processed shrimp products were consumed more than fresh/live/frozen products.

In May 2020, among the top 6 major shrimp importers of Vietnam, shrimp exports to Japan, EU, and South Korea plunged while exports to the US, China, and the UK went up. Japan was still the largest shrimp importer of Vietnam, accounting for 19.2%. In May 2020, shrimp exports to Japan declined by 19.5%; however, thanks to growth in the previous months, shrimp exports to this market in the first 5 months reached US$ 225.6 million, up 3.2% compared with the same period in 2019. Shrimp exports to the EU in May slumped by 5%, but exports to two single markets in the bloc, the Netherlands and Germany, grew well by 18.5% and 14.5% respectively. In the first five months, export to the EU reached US$162.2 million, down by 7% year on year.

Vietnam's shrimp exports to the US recorded good growth in May 2020 with US$65.8 million, up 29.5% compared to May 2019. In the first 5 months of 2020, shrimp exports to the US reached US$ 224.5 million, up 20.4% over the same period in 2019. Despite the Covid-19 epidemic, Vietnam's shrimp exports to the US grew steadily in the first five months of 2020.

In the US market, in the first 5 months of this year, Vietnam shrimp has a competitive advantage over competitors' supply thanks to stable production right after COVID-19 while other suppliers such as India and Ecuador were still suffering badly. Shrimp processors and exporters of India and Ecuador were affected not only by reduced orders but also by domestic production stalled by lockdown measures, lack of workers in factories...

US shrimp imports in the first months of this year remained stable to meet the needs of the retail segment. Shrimp retail sales increased sharply, meeting the demand of American consumers in the epidemic season. In April 2020, the US imported 51,733 MT of shrimp, worth US$ 439.4 million, up 6% in volume and 9% in value over the same period in 2019. The average import price in April 2020 reached US$8.49/kg, an increase of 3% compared to April 2019. In April 2020, shrimp imports into the US from India and Indonesia still went up while imports from Ecuador, Thailand, and China plummeted. Therefore, the demand for US shrimp imports from Vietnam will not decrease to offset the reduced supply from the other suppliers.

After falling in the first 3 months, Vietnamese shrimp exports to China recovered again in April and May. Shrimp exports to China in May 2020 reached US$ 60.3 million, up 3.9% compared to the same period in 2019. In the first five months of 2019, shrimp export to this market reached over 169 million USD, down by 9.5% year on year.

Vietnam's shrimp prices are expected to be good at the beginning of the third quarter of this year because inventories in major markets such as Japan, the US, and the EU are not as high as previous months. The supply of raw materials in China is forecast to decrease due to the influence of the DIV1 virus. In India, the lockdown measures lasted until May, causing farmers to hesitate to stock, disturbing the supply chain. The Covid-19 epidemic also affected the supply of raw shrimp in Ecuador, Indonesia, and Thailand. In Vietnam, shrimp farmers are still actively raising so enterprises can be assured about the raw materials. Vietnam's shrimp exports are expected to increase in the coming months.

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