Korea was the 5th largest consumer market of Vietnam shrimp behind the US, EU, Japan and China. In 5 years (2010-2014), Vietnam shrimp exports to Korea have been maintaining the positive growth. In 2014, Vietnam overtook China to become the largest supplier of shrimp to the market and maintained the top position up to now.
According to ITC, in 2015, shrimp imports into Korea reached 77.7 thousand MT, valued at US$509.6 million, up 3% in volume but down 27% in value. The downward trend in shrimp import value into the market was owing to Korea’s weak demand for shrimp and the plunge in global shrimp price. In Jan-Feb 2016, shrimp imports into Korea reported the increase of 6.3% in value but down 4.6% in value from the same period of 2015. In the Korean market, Vietnam shrimp must compete in price with other suppliers such as China, Malaysia, India. In 2015, the average import price of shrimp from Vietnam into Korea reached US$8.3/kg while shrimp price from China, Malaysia, India was US$2.9; US$7.9 and US$6.9/kg, respectively.
In the first two months of this year, among top 10 leading shrimp suppliers to Korea, Korea raised importing from Saudi Arabia and Indonesia with respective growth of 32% and 19.6% while imports from other suppliers showed the decline in which India showed the deepest dive of 62%, followed by Philippines, China and Thailand with the drop of 26.9%, 18.8% and 6.5%, respectively.
In 2016, Vietnam shrimp exports to Korea expected to have positive outlook because the FTA between Vietnam and Korea has taken effect. Accordingly, Korea committed to clear tax for 10,000 MT of Vietnam shrimp in the first year and 15,000 MT in the next 5 years. Vietnam now enjoys yearly non-tariff quota of 2,500 MT to Korean market out of total quota of 5,000 MT shared by 10 ASEAN countries. Vietnam shrimp have an advantage over ASEAN countries (namely Thailand, Indonesia, Malaysia) which is considered as an impetus for Vietnam shrimp exports to the market in the coming time.
With the gradual recovery in Korea’s economy and stable demand for Vietnam seafood, including shrimp; Vietnam shrimp exporters have opportunities to boost sales to the market.
Korean consumers are favoring processed seafood products from Vietnam, particularly shrimp owing to convenience, suitable taste and presentations. Besides, the geographical advantages, lower transportation costs than other countries in the ASEAN facilitate Korea’s demand for seafood from Vietnam.
Shrimp consumer tastes of Koreans have many similarities with Japan while Vietnam has experiences in processing of products exported to the Japanese market. This is also an advantage for Vietnam shrimp exporters.
|
Top 10 largest shrimp suppliers to Korea |
||||||
|
Origin |
Volume (MT) |
Value (US$thousand) |
||||
|
Jan-Feb 2015 |
Jan-Feb 2016 |
Variations (%) |
Jan-Feb 2015 |
Jan-Feb 2016 |
Variations (%) |
|
|
The world |
9.840 |
10.460 |
6,3 |
80.302 |
76.631 |
-4,6 |
|
Vietnam |
3.595 |
4.586 |
27,6 |
34.042 |
37.174 |
9,2 |
|
Ecuador |
1.006 |
1.158 |
15,1 |
9.362 |
9.317 |
-0,5 |
|
Thailand |
940 |
911 |
-3,1 |
9.832 |
9.189 |
-6,5 |
|
China |
2.415 |
2.106 |
-12,8 |
11.577 |
9.405 |
-18,8 |
|
Malaysia |
461 |
485 |
5,3 |
3.972 |
3.353 |
-15,6 |
|
Argentina |
318 |
290 |
-8,7 |
2.738 |
2.331 |
-14,9 |
|
Saudi Arabia |
116 |
195 |
67,2 |
921 |
1.216 |
32,0 |
|
India |
534 |
329 |
-38,3 |
4.045 |
1.533 |
-62,1 |
|
Philippines |
50 |
42 |
-15,2 |
613 |
448 |
-26,9 |
|
Indonesia |
68 |
94 |
37,4 |
586 |
701 |
19,6 |
By Kim Thu
(vasep.com.vn) In the first quarter of 2026, Vietnam’s shrimp exports reached USD 1.069 billion, up 17.5% compared to the same period in 2025. This is a positive result amid an uneven global shrimp market recovery, intensifying competition among major suppliers, and continued volatility in the international trade environment. However, this growth does not reflect a broad-based recovery across the entire sector, but rather is driven mainly by strong performance in a few markets and specific product segments—most notably lobster exports to China.
(seafood.vasep.com.vn) Vietnam’s tuna exports continued to decline in March 2026. Cumulatively, in the first three months of the year, export value reached USD 208 million, down 4% compared to the same period in 2025. The export landscape shows clear divergence across markets: while the U.S. and EU remain challenging, markets such as Russia, the Middle East, Egypt, the Philippines, and Mexico have emerged as growth bright spots.
(seafood.vasep.com.vn) In Quang Ngai Province, shrimp farming costs are rising sharply due to लगातार increases in feed, fuel, and input material prices, while farm-gate shrimp prices are declining. This has significantly reduced farmers’ profit margins and increased production risks.
(seafood.vasep.com.vn) Vietnam’s tilapia exports are experiencing impressive growth, reflecting expanding global demand as well as the sector’s development potential. However, behind the strong growth figures lie limitations in production capacity and supply chains, highlighting the need for sustainable development in the coming period.
(seafood.vasep.com.vn) Vietnam’s pangasius exports to the Middle East in 2025 and early 2026 have shown notable growth. However, escalating geopolitical tensions in the region have increasingly impacted export activities since March. This situation presents a challenge of balancing market expansion opportunities with rising trade risks.
(seafood.vasep.com.vn) The Quang Tri Department of Agriculture and Environment has instructed localities to base their stocking schedules on actual conditions in each farming area, while developing plans, allocating resources, and implementing synchronized measures for disease prevention and disaster risk management in aquaculture production.
(seafood.vasep.com.vn) In the first two months of 2026, Vietnam’s exports of fish cakes and surimi exceeded USD 45 million, up 7% compared to the same period in 2025, indicating a positive outlook for this product segment amid recovering demand in many markets.
(seafood.vasep.com.vn) During the week from April 4th to 10th, 2026, Quang Ngai province intensified its monitoring and law enforcement activities with the determination to eliminate illegal, unreported, and unregulated (IUU) fishing practices.
(seafood.vasep.com.vn) Thanh Hoa’s shrimp sector is undergoing a strong transformation by accelerating the adoption of high technology, helping to improve productivity, increase profits, and meet market demands. The province currently has about 4,100 hectares of shrimp farming, with output continuing to rise despite stable farming area, mainly due to the shift from traditional methods to intensive and super-intensive farming.
(vasep.com.vn) Amid ongoing volatility in global seafood trade, Vietnam’s crab exports have made a fairly positive start to 2026. According to Vietnam Customs statistics, export turnover in the first two months of 2026 reached nearly USD 55 million, up 24% compared to the same period in 2025 and more than 2.2 times higher than in the same period of 2024. This indicates that crab exports are entering 2026 with stronger growth momentum, particularly in Asian markets.
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