Up 10.6% in Vietnam shrimp exports to Taiwan

News 14:21 23/11/2017
(seafood.vasep.com.vn) Taiwan stayed as the 9th largest importer of Vietnam shrimp, accounting for 1.5% of total Vietnam’s shrimp exports. Taiwan has remained its 9th rank since 2016 (through May 2017). In 2014 and 2015, the market ranked the 7th out of top leading Vietnam’s shrimp buyers.

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

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