Vietnam shrimp exports recovered in October 2021

In October this year, among the main import markets, shrimp exports to the US, EU, and Korean markets increased; Exports to China continued to decline.

Regarding export products, as of October this year, Vietnam's vannamei shrimp export value (accounting for 77% of total exported shrimp products) increased by 9% while the export value of black tiger shrimp (accounting for 16%) increased by 1.8%, the value of other shrimp exports decreased by 39% over the same period last year.

In terms of raw shrimp production, in October 2021, whiteleg shrimp production was estimated at 85.3 thousand tons, up 0.4% over the same period last year; Black tiger shrimp was estimated at 33.6 thousand tons, down 0.9%. Raw whiteleg shrimp prices increased in all sizes in the Mekong Delta provinces.

In October 2021, Vietnam's shrimp exports to the US reached 117.7 million USD, up 19% compared to October 2020. Accumulated in the first 10 months of this year, Vietnam's shrimp exports to this market reached $892.7 million, up 22% over the same period last year.

The US demand for shrimp imports from Vietnam has been quite stable since the Covid-19 pandemic broke out in the world. During the 4th outbreak of a strong outbreak in Vietnam, shrimp exports to the US only decreased in August and quickly recovered in September.

The US demand for large shrimp is recovering, the US also has high demand for fresh/frozen meat (PD) shrimp products from Vietnam. From now until the end of the year, Vietnam's shrimp exports to the US will continue to increase and this growth momentum will last until the first quarter of 2022.

Vietnam's shrimp exports to the EU in October 2021 reached nearly $74 million, up 13% compared to October 2020. Accumulated in the first 10 months of this year, Vietnam's shrimp exports to this market reached nearly US$482 million, up 10.4% over the same period last year.

Since the beginning of the year, Vietnam's shrimp exports to the EU market have recorded a good growth rate. The EU's shrimp import demand in the last months of this year continues to increase.

The three main import markets for Vietnamese shrimp in the EU are Germany, the Netherlands and Belgium. As of October 2021, shrimp exports to Germany and the Netherlands increased by 17% and 0.6% respectively, exports to Belgium increased by 7%.

In October this year, Vietnam's shrimp exports to China reached $43.5 million, down 36.5% over the same period last year. In the first 10 months of this year, Vietnam's shrimp exports to this market reached 341.5 million USD, down 25% compared to the same period last year.

Vietnam's shrimp exports to China have decreased continuously since the beginning of this year. The reason is due to the strict control policy of corona virus on imported seafood, causing congestion at ports in China.

After easing social distancing regulations to prevent the epidemic from mid-September, shrimp processors are gradually recovering production, although they are still facing many difficulties. It is expected that Vietnam's shrimp exports for the whole year of 2021 will reach more than 3.8 billion USD, up 2.7% compared to 2020.