In the first half of July 2020, Vietnam's shrimp exports to South Korea increased by 15% over the same period in 2019. Accumulated from the beginning of the year to mid-July, Vietnam's shrimp exports to South Korea reached over $ 179 million, up 5.8% over the same period in 2019.
South Korea imports a handful of black tiger shrimp from Vietnam. Vietnam black tiger shrimp exports to this market only accounted for 4.9% of the total export structure of Vietnamese shrimp to South Korea, whiteleg shrimp made up for 83%, and marine shrimp represented 12.1%.
Export of whiteleg shrimp and black tiger shrimp to South Korea all jumped, in which, black tiger shrimp export value surged by 24.8%, whiteleg shrimp export value lifted only 1.9%. Export of processed tiger shrimp to South Korea soared by nearly 62%. Of the total shrimp products exported to Korea, dried shrimp exports to South Korea spiked the most by 194%.
The main shrimp products of Vietnam exported to Korea include PDTO shrimp, frozen sushi whiteleg shrimp, frozen steamed whiteleg shrimp, PD whiteleg shrimp, butterfly shrimp, breaded black tiger shrimp…
Vietnam is exempt from tax on shrimp imported into South Korea with a quota of 10,000 MT/year and 15,000 MT/year by 2020, but currently, Vietnam take advantage of 2,500 MT/year.
Covid-19 reappeared around the world, Korea was no exception, but Korea has proven to be able to control the disease quite well, so the epidemic situation here was not too stressful. It is expected that Vietnam's shrimp exports to this market in the third quarter will still grow positively, exports for the whole year will increase by about 5% over in 2019.
South Korea was the 8th largest shrimp importer in the world. Shrimp imports into Korea grew steadily over the years, accounting for about 2.6% of the total world shrimp imports.
Vietnam was the largest supplier of shrimp to South Korea, accounting for a large market share of nearly 52% while other competitors (Thailand 11%, Ecuador 10%, China 5.3%). In the Korean market, Vietnam has to compete in price with Chinese, Indian, and Ecuadorian shrimp. However, Vietnam has the advantage of being exempt from shrimp imports into South Korea while Ecuador is subject to a tax of 20%; Thailand is imposed a tax at 10%; China at 15%, India at 10% for shrimp products HS 030617.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
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.
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