The supply recovered slowly due to the effects of EMS (early mortality syndrome). Coupled with higher shrimp prices, these are supporting Vietnam exports. Thailand, one of the biggest shrimp suppliers, reduced its production sharply due to EMS. Farmers had to comply with procedures to minimize the mortality rate of shrimp and harvested early. Because of this, in 2014 shrimp production of Thailand can hardly reach 200,000 MT, which was one-third of the average amount in previous years. China was one of the countries that were strongly impacted by EMS while domestic demand increased, making Chinese shrimp lose its shares in many international markets.
Along with Ecuador, Indonesia and India, Vietnam became important shrimp suppliers. Shrimp production in Vietnam was in favorable condition as farming area for white shrimp expanded rapidly. Reports from the provinces revealed that in the first 7 months of 2014, area for shrimp farming reached an area of 644,193 ha (up 10.3% year on year), in which black tiger shrimp was grown in the area of 562,492 hectare (staying the same as 2013), and white leg shrimp was grown in the area of 81,701 hectares (rising 245.3% year on year). Total yield reached 317,305 MT, increasing 189.3% year on year, in which black tiger shrimp production was 152,035 MT (up 91% year on year) and that of whiteleg shrimp was 165 269 tons (up 449.4%).
Shrimp prices rose in 2014 as a result of weakening supply.
Statistics from the USDA on shrimp imports showed that the first 7 months of 2014, the shrimp average import price to the United States increased from US$ 9.1/kg to US$ 11.99/kg. Meanwhile, statistics from Vietnam General Customs indicated that shrimp export to the United States reached US$ 694.5 million, up 80.3% year on year.
Exports to EU reached US$ 387.7 million, up 98.8% year on year whilst shrimp exports to Japan recovered after months hampered by antibiotics barriers.
South Korea, the 5th largest market shrimp import market from Vietnam after the USA, Japan, the EU and China, accounted for 7.9% of the total shrimp exports. Among the top 10 of growing markets for Vietnam shrimp exports, this year, South Korea grew the fastest with the value of US$ 185.2 million, up 114.5% year on year.
Chinese shrimp exported to South Korea plummeted, which made Vietnam become the largest shrimp supplier to South Korea. Statistics from World Trade Center (ITC), in the first 7 months of 2014, Vietnam shrimp imports to South Korea rose by 55.1% in volume and 100% in value compared to that of 2013, while that Chinese shrimp imported into this market fell by 38.9% in volume and 22.2% in value.
|
Top 10 shrimp suppliers to South Korea in Jan-Jul/2013-2014 by value (Unit: US$ thousands) Source: ITC |
||||
|
No |
Supplier |
Jan-Jul/2013 |
Jan-Jul/2014 |
2014/2013 (%) |
|
|
World |
204,163 |
305,795 |
49.8 |
|
1 |
Vietnam |
76,203 |
152,390 |
100.0 |
|
2 |
China |
50,884 |
39,592 |
-22.2 |
|
3 |
Thailand |
32,184 |
27,686 |
-14.0 |
|
4 |
Malaysia |
12,994 |
22,239 |
71.1 |
|
5 |
Ecuador |
17,649 |
20,531 |
16.3 |
|
6 |
India |
4,377 |
13,689 |
212.7 |
|
7 |
Philippines |
1,574 |
6,807 |
332.5 |
|
8 |
Indonesia |
1,306 |
5,012 |
283.8 |
|
9 |
Argentina |
736 |
4,618 |
527.4 |
|
10 |
Iran |
122 |
2,731 |
2,138.5 |
|
Top 10 shrimp supplies to South Korea, Jan-Jul/ 2013-2014 by volume (Unit: MT) Source: ITC |
||||
|
No |
Supplier |
Jan-Jul/2013 |
Jan-Jul/2014 |
2014/2013 (%) |
|
|
World |
31,746 |
33,114 |
4.3 |
|
1 |
Vietnam |
9,142 |
14,184 |
55.1 |
|
2 |
China |
12,275 |
7,496 |
-38.9 |
|
3 |
Malaysia |
2,126 |
2,339 |
10.0 |
|
4 |
Ecuador |
2,238 |
2,072 |
-7.4 |
|
5 |
Thailand |
3,844 |
2,052 |
-46.6 |
|
6 |
India |
664 |
1,791 |
169.7 |
|
7 |
Argentina |
113 |
513 |
355.0 |
|
8 |
Indonesia |
196 |
480 |
144.8 |
|
9 |
Philippines |
96 |
461 |
378.8 |
|
10 |
Iran |
22 |
408 |
1,792.9 |
(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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