In the third quarter of 2022, Vietnam’s shrimp exports reached 1.13 billion USD, only a slight increase of 9% compared to the same period last year. In which, whiteleg shrimp exports only increased by nearly 4%, black tiger shrimp exports decreased by 7%. Particularly in September, whiteleg shrimp exports decreased by 5% over the same period, black tiger shrimp exports were down 7%. However, lobster exports in the third quarter increased more than 4 times over the same period.
In October, with a decrease of 16%, shrimp exports clearly revealed the downward trend of the import market as well as the inadequacies of shrimp enterprises in particular and the whole seafood industry in general.
Accordingly, in October 2022, shrimp exports earned only 360 million USD, the lowest level since the beginning of 2022 (except in February coincided in the Lunar New Year holiday). Accumulated to the end of October, the shrimp export industry recorded sales of over $3.7 billion, up 18% over the same period last year.
In October, the main markets all experienced a sharp decline in shrimp imports from Vietnam. Accordingly, shrimp exports to the US dropped 56% to over US$52 million, to Japan decreased by 19%, to Korea decreased by 26%, to the UK and EU countries decreased deeply by 55% - 88%. Particularly, exports to China and Hong Kong still maintained growth of 18% and 14% respectively compared to October 2021.
By the end of October, although it decreased by 19% over the same period, the US market still accounted for the largest proportion, accounting for nearly 20% of Vietnam's shrimp exports with a turnover of 727 million USD, equivalent to about 63 thousand tons of shrimp.
According to statistics of the US Department of Agriculture, in the first 9 months of this year, this market imported about 646.5 thousand tons of shrimp from 40 countries, worth over 6 billion USD. Import volume was similar to the same period last year, but value increased by 9%. The reason is that the average import price increased by 8.4% to 9.41 USD/kg.
Vietnam is the fourth largest shrimp supplier in the US market, accounting for 9% in volume and 11% in value. The average price of Vietnamese shrimp imports into the US was 9% higher than the same period last year, from 10.59 USD to 11.54 USD/kg.
India, Indonesia and Ecuador still hold the dominant market share with 35%, 20% and 19% in value. The average price of shrimp imports from these three countries into the US reached $9.25, $9.63 and $7.67/kg, respectively, also increasing by 7-10% over the same period last year.
Besides the US, shrimp exports to Italy by the end of October also decreased by 18%, to the UK by 6%. Economic and political instability and the upward trend in commodity prices, especially energy prices, have had a heavy impact on the Italian and British markets this year, causing imports of most goods to decrease.
However, shrimp exports to other markets by the end of October still maintained a positive growth, of which to China increased by 70%, to Australia by 50%, to Canada by 38%, to South Korea by 31%.
Vietnam shrimp exports in the last 2 months of 2022 are hard to keep the same growth as in previous months even though the upcoming end year holidays. The demand in the market is decreasing, the source of raw materials facing difficulties and production cost is increasing while enterprises and farmer are lacking of capital to rotate investment in production - processing for export
Compiled by Thuy Linh
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) has just announced that in March 2024, finished shrimp output reached 2,000 tons and finished shrimp consumption reached 1,693 tons, an increase of 74%, and 42% over the same period in 2023, respectively.
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