In May 2017, Vietnam’s shrimp exports to this market eyed US$5.9 million, an increase of 54.7% year on year. The figure in the first five months of this year was US$18.7 million, up 10.6% from a year before.
In the period, Vietnam’s shrimp exports to Taiwan reported the positive growth in the four months except for January 2017 with a year-on-year drop of nearly 46%. In a year, shrimp exports to Taiwan usually peaked between June and August.
Vietnam’s shrimp exports to Taiwan for three years (2014, 2015,2016) witnessed the year-on-year falls of 3.8%, 30.3% and 20.8%, respectively.
According to the International Trade Centre (ITC), in 10 years (2007-2016), shrimp imports into Taiwan rose continuously from over US$47 million to over US$197 million, an increase of 319%. In 2016, Vietnam was the largest supplier of shrimp to Taiwan, accounting for 16.1% of total shrimp imports into this market, followed by China, Nicaragua and Thailand with the share of 16%, 15.6% and 11.5%, respectively.
In the first four months of 2017, Vietnam ranked the 3rd in top shrimp suppliers to the market, behind China and Thailand.
On the Taiwan market, Vietnam shrimp has a competitive price over other Asian suppliers. The average import price of Vietnam shrimp in 2016 quoted at US$5.8/kg; that from Thailand and Malaysia were US$7.2/kg and US$6.5/kg, respectively.
|
Shrimp imports into Taiwan (Thousand US$, Source: ITC) |
|||
|
Suppliers |
Jan-Apr 2016 |
Jan-Apr 2017 |
Variation (%) |
|
World |
59,724 |
53,083 |
-11.1 |
|
Thailand |
5,798 |
7,869 |
35.7 |
|
Vietnam |
7,339 |
6,930 |
-5.6 |
|
China |
10,510 |
7,994 |
-23.9 |
|
Malaysia |
3,396 |
5,794 |
70.6 |
|
Indonesia |
1,562 |
1,654 |
5.9 |
|
Philippines |
886 |
651 |
-26.5 |
|
Panama |
1,680 |
1,131 |
-32.7 |
|
Canada |
233 |
226 |
-3.0 |
|
Russia |
377 |
414 |
9.8 |
(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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