Shrimp exports in 2012 hard hit US$2.4 billion

News 08:16 04/12/2012 Kim Thu

(vasep.com.vn) Till the end of the third quarter of 2012, Vietnam shrimp exports touched over US$1.62 billion. Vietnam’s shrimp sales abroad in 2012 are scheduled to obtain over US$2.2 billion, representing a drop of 8.3 percent less than the preceding year (US$2.4 billion).

In Q.III/2012, China and Australia strengthened to import shrimp from Vietnam. Outstanding problems exposing to shrimp production and export in Q.II/2012 continue to affect to shrimp sector in Q.III/2012. Japan’s Ethoxyquin testing blocked Vietnam shrimp export to the market in the third quarter this year. Shrimp exports to other two main markets (EU, the U.S., ) also saw decrease and stronger competition with shrimp originated from India and Indonesia.

Shrimp exports in the third quarter of 2012 reached US$610.2 million, showing a reduction of 3.9 percent less than the previous quarter and a drop of 15.2 percent less than the same period of 2011.

Shrimp shipment in Q.IV/2012 is expected to gain US$650 million, up 6.5 percent from that of Q.III (US$610 million) but down almost 8 percent from a year earlier as demand from some importers slows down.

Supply of raw shrimp will be sufficient and its price will increase

In the fourth quarter of 2012, the supply of raw shrimp (coming from domestic production and imports) will be sufficient for processing and exporting due to modest demand for year-end holidays from huge importing markets. The shrimp demand this year is lower than that of the previous years.

The price of raw shrimp will increase due to ending of the harvesting season in the fourth quarter and processors’ high demand of raw shrimp.

Shrimp shipment to main markets is expected to stand still

Shrimp export to Japan depends much on “Ethoxyquin problem”. If Vietnam shrimp exporters continue to cope with this problem, shrimp sales to Japan in Q.IV will find it hard to report a positive growth.

It is hoped that in Q.IV/2012, shrimp exports to the U.S. will hit US$127 million, an equal level to Q.III due to the U.S.’s high shrimp inventories and large volume of shrimp importing from India and Ecuador.

In the fourth quarter, demand for shrimp in EU market will hardly rebound. Although shrimp is European people’s favorite product in Christmas holiday, consuming demand for shrimp in the region, particularly countries in the southern Europe will be lower due to economic downturn.

In the third quarter, China reported the economic growth of 7.4 percent and the growth rate of 7.7 percent was seen in the first 9 months of 2012. According to economists, China’s economic growth in 2012 is expected to reach the rate of 7.5 percent. Thus shrimp exports to China will keep a positive growth in Q.IV.

In the last three months of this year, shrimp exports to Australia are expected to remain positive results owing to stable demand. Australia is considered as a potential market of Vietnam shrimp this year.

Bạn đang đọc bài viết Shrimp exports in 2012 hard hit US$2.4 billion tại chuyên mục News của Hiệp hội VASEP

TIN MỚI CẬP NHẬT

Vietnam shrimp exports to the US following election

| 08:42 22/11/2024

(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.

Steady growth in pangasius exports to Canada for the first three quarters

| 08:40 20/11/2024

(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.

Cà Mau Province accelerates digital transformation and develops green industry

| 08:35 18/11/2024

(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.

Dong Thap pangasius: “Green journey – Green Value”

| 09:23 14/11/2024

(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.

Việt Nam's seafood sector primed for growth with favourable exports

| 08:55 12/11/2024

The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.

Vietnam shrimp industry accelerates toward $4 billion target

| 08:38 08/11/2024

(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.

Eearning trillions of VND from shrimp heads and fish tails

| 09:01 07/11/2024

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.

Vietnam's shrimp exports surge at year-end

| 09:03 05/11/2024

(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.

Navico and FIMEX VN achieve outstanding business results in Q3/2024

| 08:45 04/11/2024

(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 releases Seafood Export Report for the first nine months of 2024 and year-end forecast

| 10:06 01/11/2024

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.

Shrimp exports in 2012 hard hit US$2.4 billion

Tin cùng chuyên mục

Vietnam’s tuna industry seizes “golden opportunity” to boost exports to the UAE

Vietnam tuna exporters worried over escalating Israel-Iran tensions

Vietnam’s exports of frozen tuna meat/loin continue to surge

The raw material problem of canned tuna exported to the EU

Eco-friendly shrimp farming for climate change resilience

Vietnam tuna exports reached US$558 million in Jan-Jul 2024