According to statistics of Vietnam Customs, since 2018, Vietnam’s shrimp exports to Australia have also increased continuously from US$115 million in 2018 to US$188 million in 2021.
Australia is the 7th biggest import market of Vietnam’s shrimp, accounting for 5% of total Vietnam’s shrimp exports value in 2021. In the first 4 months of 2022, Vietnam's shrimp exports to Australia recorded a fairly high growth rate. Australia has surpassed the UK, coming to the 6th place in terms of shrimp imports from Vietnam with the proportion increased to 7%.
The main shrimp products exported to Australia in the first 4 months of this year are boiled, frozen cooked headless tail-off whiteleg shrimp; fresh frozen PD headless tailless whiteleg shrimp, fresh frozen PDTO headless and tailed whiteleg shrimp, frozen PD IQF whiteleg shrimp... The biggest exporters of shrimp to Australia are Minh Phu Seafood Corp, Cases, Minh Phu-Hau Giang JSC, Viet Shrimp Corporation…
According to data from the World Trade Organization, Australia's shrimp imports in the first quarter of 2022 reached nearly US$100 million, up 18% over the same period last year. From the beginning of 2021 until now, shrimp imports into Australia have recorded continuous growth.
In the top of the main shrimp suppliers to Australia in the first quarter of this year, shrimp imports from Vietnam increased while imports from the remaining sources decreased.
Vietnam is the largest shrimp supplier to Australia, accounting for 72% of the total shrimp import value of this market. Thailand ranks second with a market share of 13%, followed by China with 8%.
The average price of shrimp imports to Australia in the first quarter of 2022 reaches about 11 USD/kg, while the average import price is 11 USD/kg from Vietnam, 9,25 USD/kg from Thailand, 9,83 USD/kg from China.
With multilateral free trade agreements with Australia, especially the Regional Comprehensive Economic Partnership (RCEP) coming into effect from the beginning of 2022, Vietnam’s shrimp entering the Australian market will have better competitiveness thanks to the tax reduction roadmap.
With the advantage of being the largest shrimp supplier to Australia for many years, along with RCEP, Vietnam's shrimp exports to Australia are expected to continuously grow in this year.
|
Australia's shrimp imports, Q1/2022 (Source: ITC) |
||||||
|
Suppliers |
Value (US$ mil.) |
Volume (ton) |
||||
|
Q1/2021 |
Q1/2022 |
Change (%) |
Q1/2021 |
Q1/2022 |
Change (%) |
|
|
Total imports value |
84.589 |
99.671 |
17,8 |
8.463 |
9.435 |
11,5 |
|
Vietnam |
51.378 |
71.654 |
39,5 |
4.871 |
6.372 |
30,8 |
|
Thailand |
13.292 |
13.008 |
-2,1 |
1.408 |
1.406 |
-0,1 |
|
China |
8.101 |
7.659 |
-5,5 |
885 |
779 |
-11,9 |
|
Malaysia |
5.163 |
3.778 |
-26,8 |
526 |
377 |
-28,4 |
|
New Caledonia |
128 |
704 |
450,0 |
7 |
268 |
3.825,6 |
|
Indonesia |
1.385 |
692 |
-50,0 |
115 |
55 |
-52,2 |
|
Brunei Darussalam |
1.021 |
391 |
-61,7 |
133 |
50 |
-62,7 |
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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