Deep dive in shrimp exports
According to International Trade Center (ITC), through February 2014, Thailand’s shrimp exports to markets continued a year-on-year sharp decrease in both volume and value. In the period, shrimp exports reached 19,150 MT, down 49.1 percent against the same period of 2013 (37,592 MT). In term of export turnover, shrimp sales hit US$244.4 million, down 30.2 percent from US$350 million of the same period of last year.
In the first 2 months of this year, the U.S. is still the largest importer of Thailand shrimp (occupying 40 percent of the country’s total shrimp exports). However, shrimp exports from Thailand to the market downed 37 percent in volume and 9.5 percent in value on those of a year ago. Besides, shrimp exports to other main markets (Japan, the U.K, Canada, Australia) also reported the downfall in the period.
|
Thailand’s shrimp exports to main markets, Jan-Feb 2013/2014 (Source: ITC) |
||||||
|
Markets |
Volume (kg) |
Variation (%) |
Value (thousand $US) |
Variation (%) |
||
|
Jan-Feb 2013 |
Jan-Feb 2014 |
2014 vs. 2013 |
Jan-Feb 2013 |
Jan-Feb 2014 |
2014 vs. 2013 |
|
|
Total |
37,592,568 |
19,150,333 |
-49.1 |
244,459 |
350,449 |
-30.2 |
|
The U.S. |
12,960,638 |
8,158,933 |
-37.0 |
108,260 |
119,617 |
-9.5 |
|
Japan |
10,759,059 |
5,702,323 |
-47.0 |
67,266 |
106,622 |
-36.9 |
|
The U.K |
2,323,328 |
986,432 |
-57.5 |
16,280 |
23,364 |
-30.3 |
|
Canada |
2,134,696 |
754,204 |
-64.7 |
10,214 |
20,683 |
-50.6 |
|
Australia |
1,054,378 |
704,799 |
-33.2 |
8,375 |
9,992 |
-16.2 |
|
South Korea |
887,278 |
570,206 |
-35.7 |
7,586 |
7,248 |
4.7 |
|
Germany |
1,242,271 |
435,289 |
-65.0 |
6,665 |
13,119 |
-49.2 |
|
Taiwan |
627,543 |
273,377 |
-56.4 |
3,417 |
3,455 |
-1.1 |
|
Hong Kong, China |
341,544 |
257,801 |
-24.5 |
2,533 |
4,956 |
-48.9 |
|
Vietnam |
1,663,321 |
165,710 |
-90.0 |
1,765 |
11,007 |
-84.0 |
In 2013, Thailand’s shrimp exports reported the deepest dive in the last 5 years. Exports to markets, particularly the U.S, edged down. Last year, shrimp volume exported to the U.S. downed 39.8 percent to 77,887 MT from 129,362 MT reported in 2012 while export value fell 23.8 percent to US$881 million from US$1.14 billion of 2012.
Before suffering the heavy damage by EMS, Thailand kept holding the top shrimp supplier to the U.S. with the market share of 25 percent. However, in 2013, shrimp exports by Thailand to the U.S. faced many difficulties due to scarcity of domestic shrimp supply caused by EMS. Besides, the shrimp industry of Thailand has been accused of abusing labor and child labor by the U.S in shrimp sector. This was attributable to the decrease in Thailand’s shrimp sales to the market.
In 2013, India surpassed Thailand to claim the top position in supplying shrimp to the U.S. thanks to sharp increase in its whiteleg shrimp output. India expected to remain the top position in 2014.
Recovery in shrimp output after QII/2014
In 2012, raw shrimp supply in Thailand reached 540,000 MT. Due to EMS, Thailand’s shrimp production was badly affected and fell to touch 250,000 MT in 2013.
According to Thai Shrimp Association, the country’s shrimp production will recover in QII/2014. Accordingly, shrimp output is expected to rise 20 percent to 300,000 – 320,000 MT this year.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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