As of November 2018, shrimp exports to China only increased in January and March with the remaining months of export decreased by 2 digits rate. In the first eleven months of 2018, China was the market that recorded the strongest decrease in Vietnam shrimp imports among the main markets importing Vietnamese shrimp. Vietnam shrimp exports to China reached US$449.8 million, down 29.5% compared to the same period in 2017.
China reduced buying due to a lot of inventory from last year and with a drop in shrimp price so this market stopped before making large orders. Moreover, as China increasingly tightens import and export activities through border, the imports and exports of shrimp to China is also somewhat affected.
In 10 years (2008-2017), Vietnam shrimp export to China tended to grow well, with the next year higher than the previous year. China is the fastest growing shrimp market among the major markets importing Vietnamese shrimp during this period.
In terms of products, the proportion of exported tiger shrimp to China is always the highest compared to whiteleg shrimp and marine shrimp. As of November 2018, in the total structure of exported shrimp products to China, whiteleg shrimp accounted for 30.8% while tiger shrimp accounted for 64.7%. Export of black tiger shrimp to China in the first 11 months of 2018 increased by 14% while export of whiteleg shrimp decreased by 43% compared to the same period last year.
China is the 6th largest shrimp import market in the world, accounting for 3.5% of total world shrimp imports in 2017. The demand for importing shrimp for domestic consumption and re-export processing of China is still stable and shrimp is always the product that gains most attention in seafood exhibitions in China.
Vietnam ranked 8th among the main shrimp suppliers to China, accounting for 1.8% of the market share. Vietnam still has to compete with rivals in Asia such as Thailand accounting for 16.1% market share, India accounting for 9.7%, Indonesia accounting for 2% in 2017.
In terms of import prices, the price of shrimp imports from India and Indonesia is always the most competitive. The average import price from Thailand is the highest, followed by the price of Vietnamese shrimp.
With stable demand for shrimp and favorable geographical position, enterprises need to improve product quality and focus more on branding and packaging in accordance with the Chinese market to maintain exports to this market.
(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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