Positive signal for shrimp exports to the US

News 06:34 17/07/2023
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of June 15, 2023, Vietnam's shrimp exports to the US reached 257 million USD, down 41% over the same period in 2022.

Vietnam's shrimp exports to the US started a downward trend from the second half of 2022. Inflation increased, people tightened spending, and chose more affordable products 

In the post-Covid period in the first half of 2022, the demand and consumption of shrimp in the US increased unprecedentedly, however, causing high inventories and supply imbalance.

In the first months of this year, producing countries such as India and Ecuador entered the harvest season, supply increased, and shrimp prices decreased. In addition, the continued US interest rate hike has negatively impacted the shrimp import demand of this market.

However, looking at the monthly export sales, it seems that this market is showing signs of recovery. Shrimp exports to the US in May 2023 reached $68 million, the highest level since the beginning of the year. Although it was still a negative growth of 31% compared to the same period last year, this is also the smallest decrease compared to the previous months.

Looking at the monthly export sales, it seems that the US market is showing signs of recovery.

According to data from the Department of Foreign Agricultural Affairs (belong to USDA/FAS), US shrimp imports in April 2023 decreased for the 10th consecutive month. Accumulated in the first 4 months of this year, US shrimp imports reached 237,377 tons, worth 2 billion USD, down 18% in volume and 29% in value over the same period in 2022.

The average price of shrimp imports into the US in the first 4 months of this year reached 8.3 USD/kg, down 14% over the same period last year (9.6 USD/kg). The price of products from the sold inventory was low, creating more pressure for new imports, depressed pricing for new imports, contributing to the significant decrease in Vietnam's shrimp export turnover to the US.

Statistics on the volume of shrimp imports into the US from Vietnam show that shrimp imports from Vietnam have recorded an increase for 3 consecutive months, the following month is higher than the previous month, from 2,423 tons in February 2023 to 2,845 tons in March and to 3,665 tons in April. Shrimp imports from Vietnam into the US in each month also recorded a decrease less than the overall decrease in US shrimp imports. If this trend continues until June, the US market is considered to be able to recover soon from July.

In April 2023, a number of Vietnamese shrimp products imported into the US recorded growth compared to March 2023, such as shell-on shrimp increased by 211% compared to March 2023, peeled shrimp shrimp increased by 46%, and cooked and breaded shrimp increased by 13% and 20% respectively.

In the first 4 months of this year, in the structure of imported shrimp products from the US, the volume of peeled shrimp decreased by 11%, breaded shrimp by 30%, and cooked shrimp by 28% compared to the same period last year.

Cold storage in the US is dwindling, US importers, retailers and wholesalers will start to consider increasing imports again. This will drive shrimp prices higher and it looks like shrimp prices have bottomed out. Shrimp consumption for year-end festivals is also expected to increase. The supply of ships and containers is in a favorable state for exporters. According to the collected data, the amount of hanging, non-cultivated ponds in India ranges from 30% to 50%. In Ecuador, EI Nino is causing damage to about 30% of the farming area, the amount of shrimp will decrease. These can be considered as the basis for a more optimistic forecast of shrimp exports to the US in the coming months.

Compiled by Thuy Linh 

Bạn đang đọc bài viết Positive signal for shrimp exports to the US tại chuyên mục News của Hiệp hội VASEP
shrimp exports to the us

TIN MỚI CẬP NHẬT

Defying headwinds, Sao Ta Foods (FMC) reports 25% revenue growth in 2024

 |  09:07 21/01/2025

(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.

Value-added pangasius exports to the US in 2024 hit highest level in a decade

 |  08:35 17/01/2025

(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.

Tuna exports to Italy face difficulties at the end of 2024

 |  08:43 15/01/2025

(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.

Tien Giang modernises offshore fishing fleets

 |  09:31 13/01/2025

The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.

VASEP hosts "Celebration of 10 billion USD seafood export achievement of Vietnam in 2024"

 |  09:40 08/01/2025

(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.

The secret to Sao Mai Super Feed's success in the pangasius industry

 |  09:20 08/01/2025

(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.

Seafood exports are only around 8-10 billion USD/year, VASEP recommends establishing marine exploitation corporations

 |  09:02 06/01/2025

Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.

Vinh Hoan Seafood (VHC): Exports to the U.S., EU, and China grow by up to 40%

 |  08:54 02/01/2025

(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.

After 11 months, shrimp exports reach nearly 3.6 billion USD

 |  09:06 30/12/2024

(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.

Vietnamese pangasius accounts for 90% of total pangasius imports into the EU

 |  09:12 26/12/2024

(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.

VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM

Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội

Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO

Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu

Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông

Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn

Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh

Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn

VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội

Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn

© Copyright 2020 - Mọi hình thức sao chép phải được sự chấp thuận bằng văn bản của VASEP

DANH MỤC