In QI/2017, the shortage of raw shrimp, a rise in raw shrimp prices as well as the ban on shrimp imports in Australia drove the year-on-year 0.1 percent drop in Vietnam’s shrimp exports.
In QII/2017, the domestic supply of raw materials was significantly improved, while shrimp supplies in some major producing countries and importing markets decreased. In addition, Australia step by step loosened the ban on shrimp imports, which helped Vietnam’s enterprises to boost shrimp exports in QII/2017.
Vietnams shrimp sales to most of major markets increased in the first half of this year, except for the U.S and ASEAN.
The position of top 5 biggest importers of shrimp has changed in the first half of this year. Of that, Japan outstripped the U.S to rank the 1st. The EU remained its second place. China held as the 3rd rank and the U.S dropped to the 4th rank.
Vietnam’s shrimp exports to the U.S after the good growth in the first three quarters of 2016, but then fell in QIV/2016 and continued the downward trend in QI/2017. Exports to this market recovered in QII/2017 but not enough to offset the decline in the first quarter. Therefore, exports to the market in Jan-Jun 2017 were down 7.5% to reach US$276.4 million.
The decrease in exports to the U.S was due to the impact of the DOC raising the antidumping duties on POR11, the depreciation of the dollar. In addition, strong competition from India (Vietnam's main competitor in the U.S) also partly reduced exports of Vietnamese shrimp to the market. Vietnam ranked the 5th in top largest suppliers of shrimp into the U.S, making up 7.8%.
Imports of frozen raw shrimp meat (HS code 0306170040) into the U.S picked the biggest share. India, Indonesia and Vietnam were top 3 leading suppliers of this item to the market.
Imports of frozen processed shrimp (HS code 1605211030) into the U.S made up the second largest share. Thailand, Vietnam and Indonesia top 3 largest suppliers of this item to the market.
Growth trends in the first half of this year will have a positive impact on Vietnam’s shrimp exports in the coming time. Vietnam’s shrimp exports in QII/2017 expected to continue the rise, especially when demand in markets increases sharply during Christmas and New Year.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
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