Korean shrimp imports from Vietnam surges in 2014

Export potentials 14:40 21/11/2014 609
(vasep.com.vn) Statistics show that in the first 9 months of 2014, Korea shrimp imports increased by 6.4% year on year in volume, and that from Vietnam rose by 50.2%.

 From January to September 2014, South Korea imported 44,418 MT of shrimp, with the value of US$ 407.4 million, up 6.4% in volume and 44.5% in value. As imports from China plummeted and imports from Thailand fell sharply at 39%, Vietnam become the largest shrimp supplier for South Korea. Vietnam rose its market share from 33% to 44%.

South Korea shrimp imports, Jan-Sep /2013-2014  by weight (MT)

Origin

2013

2014

2014/2013 (%)

Global average

41,731

44,418

6.4

Vietnam

13,083

19,646

50.2

China

14,610

9,391

-35.7

Malaysia

2,802

3,150

12.4

Ecuador

3,054

3,120

2.1

Thailand

4,574

2,786

-39.1

India

1,536

2,290

49.1

Indonesia

161

664

311.7

Argentina

150

655

334.6

Philippines

194

538

177.4

Iran

21

408

1792.9

 

South Korea shrimp imports, Jan-Sep /2013-2014  by value (US$ millions)

Origin

2013

2014

2014/2013 (%)

Global average

282.0

407.4

44.5

Vietnam

109.6

205.3

87.2

China

63.2

50.6

-19.9

Thailand

39.9

37.3

-6.4

Ecuador

24.3

30.4

24.7

Malaysia

18.5

29.1

56.8

India

11.3

17.2

52.0

Philippines

2.9

7.9

166.7

Indonesia

1.7

6.9

293.7

Argentina

1.0

5.8

455.2

Peru

1.2

2.8

133.3

Accounting for 7.9% of total shrimp exports from Vietnam, Korea is ranked 5th in top list of biggest shrimp market for Vietnam, after the US, Japan, EU and China. Shrimp exports from Vietnam to Korea in the first 9 months of 2014 upped 84.8% year on year. This growth rate is only lower than exports to EU.Early mortality syndrome (EMS) was the main cause for the decline in shrimp imports from China and Thailand. This became an opportunity for other sources such as Vietnam, India and Indonesia to boost exports to Korea. Shrimp imports from Indonesia to Korea were reported up 311.7% in the first nine months of this year.

Until the end of September 2014, whiteleg shrimp exports to Korea, up 106% year on year, were double as those of black tiger shrimp.  

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