Opportunities seen in shrimp export to the US market

News 16:21 16/06/2015
(vasep.com.vn) Data from General Customs shows that in first 4 months of 2015, Vietnam earned US$ 164 million from shrimp exports. Markets have positive signs.

Seasonal harvest peak in India is about to end, while in Vietnam harvest time is coming. 

On 3rd March 2015, US Department of Commerce (DOC) announced preliminary results of of the ninth anti-dumping duty administrative reviews on certain frozen shrimp imported from Vietnam. The period of review (POR) is 1st February 2013 through 31st January 2014. The average tax rate  would be 0.93%, from 6.37% of POR8. If these preliminary results are retained in the final results, the condition for Vietnam shrimp exports to the US would be better.

A strong dollar resulted in higher purchasing power. The US increased shrimp imports. Vietnam was the fastest growing supplier of breaded shrimp to this market.

In the first quarter of the year, over 135,000 MT of shrimp was imported into the US, reaching the value of US$ 1.4 billion. Frozen breaded shrimp imports increased by 11% to reach 11,737 MT in volume and US$ 94.7 million in value.

Imports from Vietnam reported a surge of 50% to 1,491 MT. In terms of vaue, it is 42% increase to US$ 11.9 million. Meanwhile, imports from China down 10% to US$ 45.6 million. Imports from Thailand, on the other hand, remained stable with US$ 22.1 million.

Besides, imports of frozen shelled shrimp into the US grew to 54,984 MT, reporting the value of US$ 551.4 million, up 17% in volume and 5% in value. 

Frozen warm water shrimp imports reached 47,215 MT with the value of US$ 501 million in the first quarter, down 9% in volume and 26% in value over the same period last year. 

Shrimp imports by the US, QI/2014-2015 (Unit: MT)

Origin

Jan-Mar 2014

Jan-Mar 2015

Variation

Volume

Percentage in total imports (%)

Volume

Percentage in total imports (%)

Thailand

13,667

11

16,580

12

21.3

Indonesia

24,088

19

27,945

21

16

Ecuador

22,357

18

23,411

17

4.7

India

20,955

17

24,157

18

15.3

Vietnam

16,099

13

12,341

9

-23.3

China

8,476

7

7,104

5

-16.2

Mexico

3,457

3

6,572

5

90.1

Other

17,765

14

16,736

12

-5.8

Total

126,954

100

134,845

100

6.2

 

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