In the top 10 shrimp import markets in the first 2 months of this year, besides the countries as the top 10 markets last year (USA, Japan, South Korea, Australia, China, Canada, UK, Germany, Hong Kong), the Netherlands has replaced Singapore, after exporting to the Netherlands increased by 27%, while exports to Singapore plummeted by 97%.
Position in the top 10 shrimp import markets has been changed by the big surges in export value to the US, Australia, Canada, Germany and the Netherlands (up by 14%, 115%, 14%, 20% and 27% respectively) and the slowdown in Japan, UK, and Hong Kong (down by 6%, 75% and 29%, respectively).
|
Top 10 shrimp exporters to Australia, the first 2 months of 2021 |
|
|
No |
Exporter |
|
1 |
Minh Phu Hau Giang Seafood Joint Stock Company |
|
2 |
Minh Phu Seafood Corporation |
|
3 |
Ca Mau Seafood Processing and Service Joint Stock Company |
|
4 |
Sao Ta Foods Joint Stock Company |
|
5 |
SEAVINA Joint Stock Company |
|
6 |
O&H Loong Pty Co., Ltd |
|
7 |
Quang Minh Seafood |
|
8 |
Argex Saigon Foodstuffs Joint Stock Company |
|
9 |
Hasa Seafood Corporation |
|
10 |
Hai Viet Corporation |
Australia is in the top 4 Vietnam shrimp export markets
Notably, the acceleration of shrimp exports to Australia has brought this market from 10th place to top 4 after only the US, Japan and South Korea. In the first two months of 2020, there were 35 companies participating in shrimp export to this market, after 1 year, there are 12 more companies exporting shrimp to Australia. The increase in the number of shrimp exporters and the increase in export turnover of large companies was the factors that brought positive results for shrimp exports to Australia. In particular, Minh Phu Corp alone accounted for 37% of the total Vietnamese shrimp exports to Australia and sales soared 159% over the same period last year. In addition to Minh Phu, CASES, Agrex Sai Gon, SEAVINA, Quang Minh Seafood, Hai Sang Seafood, O&H LOONG PTY ...and also Sao Ta Food Joint Stock Company were in the top 10 shrimp exporting enterprises to Australia in the first two months of this year. Shrimp exports to Australia grew spectacularly mainly thanks to whiteleg shrimp, up by 192% and accounting for 92% of the total shrimp export value, while black tiger shrimp exports decreased by 3.7% and only accounted for 1.4% of exports, the rest are other types of shrimp accounted for 6.5%, down by 2%.
The main shrimp products exported to Australia in the first 2 months of the year include: frozen headless peeled fresh white shrimp with tail, frozen fresh PD white shrimp, frozen steamed/boiled PD shrimp, Frozen breaded whiteleg shrimp, Other processed shrimp (dumpling, spring roll, seasoned shrimp and meat ...), fresh, frozen tiger shrimp ... Notably, in addition to traditional products, in the first 2 months of this year, Australia imported a lot of dried shrimp from Vietnam (8.1 million USD worth), while in the same period last year, this market did not import dried shrimp.
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Top 10 shrimp export markets of Vietnam, the first 2 months of 2021 |
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|
Market |
Value (mil USD) |
Change vs last year (%) |
Proportion (%) |
|
The U.S |
85.824 |
14 |
20.8 |
|
Japan |
82.675 |
-6 |
20.0 |
|
South Korea |
44.657 |
0 |
10.8 |
|
Australia |
29.614 |
115 |
7.2 |
|
China |
26.225 |
11 |
6.3 |
|
Canada |
23.061 |
14 |
5.6 |
|
The U.K |
21.955 |
-75 |
5.3 |
|
Germany |
14.162 |
20 |
3.4 |
|
The Netherlands |
13.486 |
27 |
3.3 |
|
Hong Kong |
10.418 |
-29 |
2.5 |
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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