Like the US market, demand in the EU recovered after Covid. So despite difficulties such as the high food inflation, soaring sea freight rates and high container costs, Vietnamese businesses took advantage of the situation to promote shrimp exports to this market. In the context of price inflation, the EVFTA is an even more favorable factor to support shrimp exports to the EU.
In the first 5 months of this year, Vietnam's shrimp exports to the EU reached 304 million USD, up by 51% over the same period last year, recorded the highest export volumes compared to previous years’ same period.
Countries in EU increased their imports of vannamei by 46% with US$236 million, accounting for 78%. Black tiger shrimp imports from Vietnam skyrocketed 75% to over 50 million USD, accounting for 16.5% of shrimp exports to this market. The top 3 markets in the bloc including the Netherlands, Germany and Belgium all increased 58-91% of Vietnam's shrimp imports in the first 5 months of 2022.
Demand for sustainable and organic shrimp products is growing in Europe. Convenience products are also in high demand.
Vietnam's shrimp exports to the EU in the coming months will continue to be affected by inflation in Europe, as the EUR depreciates against the USD. The economies of Europe are also dealing with the crisis from the Russia-Ukraine war, the cost of gasoline, the soar of price of goods. The EU's shrimp import demand in the following months may decrease and is expected to increase again in the last months of the year.
Compiled by My Hanh
(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.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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