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
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) has just announced that in March 2024, finished shrimp output reached 2,000 tons and finished shrimp consumption reached 1,693 tons, an increase of 74%, and 42% over the same period in 2023, respectively.
(seafood.vasep.com.vn) In February 2024, Vietnam pangasius exports to China and Hong Kong decreased by 65% compared to February 2023, reaching 23 million USD.
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