Shrimp imports into the country hit about US$900 million per year. For the 10 years (2008-2017), shrimp imports into the UK from 2014 up to now posted a higher increase over those in the period from 2014 backwards.
In the first three months of this year, shrimp imports into the UK reached US$196.3 million, up 6.4% over the same period in 2017. Vietnam held as the largest supplier of shrimp to the UK, accounting for 24% of total UK’s shrimp imports. India ranked the second with 17%. Among the main shrimp suppliers to this market, the UK’s shrimp imports from Vietnam, India and Thailand increased by 61%, 26% and 36%, respectively, while imports from Bangladesh and Indonesia declined by 53% and 35%, respectively. Coldwater shrimp imports from Canada to the UK also decreased by 3%. In the period, the average import price of shrimp from Vietnam into the UK got quite competitive compared to other suppliers such as Bangladesh and Thailand.
|
The average import price of shrimp into the UK, Jan-Mar 2018 (US$/kg) |
|||
|
Supplier |
Jan |
Feb |
Mar |
|
World |
12 |
11 |
11 |
|
Vietnam |
12 |
11 |
12 |
|
India |
11 |
10 |
9.80 |
|
Denmark |
10 |
10 |
11 |
|
Bangladesh |
13 |
12 |
12 |
|
Thailand |
13 |
12 |
12 |
|
Indonesia |
13 |
9.59 |
9.63 |
|
Canada |
11 |
11 |
11 |
|
Netherlands |
15 |
17 |
17 |
In the EU, the UK stayed as Vietnam's second largest shrimp importer behind the Netherlands, accounting for 31% of Vietnam's shrimp exports to the EU and accounting for 5.6% of Vietnam's shrimp exports to all markets. In 2017, Vietnam’s shrimp exports to the UK touched US$210.6 million, up 55.5% over 2016. The figure in the first three months of 2018 estimated at US$41.4 million, up 49% compared with same period last year.
Over the last three years, Vietnam’s shrimp exports to the UK have grown steadily from US$114.6 million in 2014 to US$210.6 million in 2017, an increase of nearly 84%. Shrimp exports to the UK tended to increase as the UK boosted imports of warmwater shrimp thanks to reasonable prices over coldwater shrimp. The price of coldwater shrimp was on the upward trend due to a fall in quotas.
The UK continued to be one of potential importing markets of Vietnam in the EU because exporters to this market also enjoy the GSP.
(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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