Shrimp imports into Vietnam in 2015

News 16:02 23/02/2016
(seafood.vasep.com.vn) In 2015, total seafood imports by Vietnam reached US$6.57 billion, down 16.1% from 2014. Vietnam enterprises must import raw material for processing and exporting due to instability in domestic supply of raw material. However, seafood imports in to Vietnam in 2015 were lower than those of 2014 because enterprises must face difficulties caused by decline in import price, weaker importing demand and stronger competition.

According to the statistics of Vietnam Customs, total fish imports into Vietnam in 2015 reached over US$1 billion, representing an increase of 0.5% compared to 2014. In which shrimp imports reported the highest proportion of 40% with over US$426 million, down 11%; tuna imports hit US$215 million, up 15% and making up 20%, other marine finfish imports reached US$351 million, up 11% and occupying 33% year on year.

Vietnam mainly imported fresh/frozen/live fish serving for processing and exporting. In which fresh/frozen/live marine finfish (HS code 0302 and 0303) hit US$283 million, up 12%; imports of fresh/frozen tuna (HS code 03, except for HS code 0304: tuna fillet) touched US$184 million, posting an increase of 10%.

In 2015, Vietnam imported shrimp from 37 origins with the value of US$426 million, down 10.7% year on year. Whiteleg shrimp and black tiger shrimp under the presentation of live/fresh/frozen (HS code 03) imported into Vietnam made up 65.9% and 20.3%, repectively out of Vietnam's total shrimp imports. Whiteleg shrimp products imported into Vietnam accounted for 68% while black tiger shrimp accounted for 21%. Imports of live/fresh/frozen whiteleg shrimp (HS code 03) reached US$281 million, up 8% while live/fresh/frozen black (HS code 03) gained over US$86 million, down nearly 41%.

India is the largest shrimp supplier to Vietnam with the estimated value of US$318 million; down 7.8% year on year and occupied 74.7% of total shrimp imports by Vietnam.

Shrimp products imported into Vietnam in 2015

Products

Value (US$)

The proportion

Variations (%)

Shrimp (HS 03 & 16)

425,931,443

100.0

-10.7

Processed whiteleg shrimp (HS 16)

8,244,873

1.9

+ 5.3

Live/fresh/frozen whiteleg shrimp (HS03)

280,696,518

65.9

+ 8.0

Shrimp seed

15,563,460

3.7

-22.2

Other processed shrimp (HS 16)

1,000,512

0.2

-3.1

Dried other shrimp (HS 03)

344,208

0.1

+ 3,725.2

Fresh/live/frozen other shrimp (HS 03)

31,705,478

7.4

-23.3

Other processed black tiger shrimp (HS 16)

1,949,715

0.5

+ 205.9

Live/fresh/frozen  black tiger shrimp (HS 03)

86,426,679

20.3

-40.8

According to statistics of the International Trade Centre (ITC), Vietnam became the second largest importer of Indian shrimp, only after the U.S. with the volume of 50 thousand MT in the first 3 quarters of 2015. The peak months were July and August 2015 when Vietnam imported 8.0-8.6 thousand MT of shrimp from India with the average price of US$7.0 – 7.6/kg. In the remaining months of 2015, Vietnam imported about 4.4 – 5.7 thousand MT/month. The average price fell from US$8.3-8.7 USD/kg in the early months of 2015 to US$6.7/kg in the mid year and recovered to US$7.4-7.5/kg in the third quarter of the year.

In 2016, it is forecast that Vietnam will have the opportunity in increasing its shrimp exports to a number of key markets thanks to the FTAs the TPP. Therefore, Vietnam is expected to raise importing shrimp for processing and exporting with the expected value of US$470 million, up 10% from 2015.

Top 10 shrimp suppliers to Vietnam in 2015

Source: VASEP (based on statistics of Vietnam Customs)

No.

Suppliers

Value (US$)

The proportion

(%)

Compared to 2014 (%)

1

India

318,011,123

74.7

-7.8

2

Ecuador

13,506,458

3.2

-40.2

3

Thailand

10,399,159

2.4

+ 14.3

4

Argentina

8,835,505

2.1

-12.1

5

The U.K

7,263,051

1.7

+ 7.2

6

Indonesia

6,327,376

1.5

-68.9

7

The U.S.

5,891,269

1.4

+ 20.3

8

Canada

4,406,237

1.0

+ 4.1

9

Australia

3,829,298

0.9

+ 114.8

10

Singapore

3,631,067

0.9

-7.3

 

Total

425,931,443

100.0

-10.7

Written by Le Hang

Compiled by Kim Thu

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