In May 2015, the UK surpassed Germany to become Vietnam's largest shrimp importing market in the EU. In August 2015, the UK accounted for 4.7% of the Vietnam’s total shrimp exports while the proportion to Germany was 3.1%. Through August, the proportion to the UK made up 4% while Germany took 3.9%.
The UK was the only market in the EU to report the positive growth of 24.4% in Jan-Aug 2015.
Statistics of Vietnam Customs showed that in August 2015, Vietnam shrimp exports to the UK worth US$12.7 million, up 7% from the previous month but down 15.4% from the same period of 2014. In Jan-Aug 2015, shrimp sales to the market hit US$72.4 million, up 24.4% year on year, which is the highest growth among Vietnam's top 8 shrimp importing markets. Vietnam shrimp exports to the UK has been increasing since February.
Shrimp imports into the UK have been growing in the past 5 years, except for the drop of 11% in 2012. According to International Trade Center (ITC), in Jan-Jul 2015, shrimp imports into the UK touched US$ 481.5 million, down 1.6% year on year due to price rises led by economic crisis and the depreciation of EUR against USD.
Between January and July 2015, Vietnam was the third largest supplier of shrimp to the UK, just behind Canada and India, representing nearly 11% out of total shrimp imports into the UK.
Among top 10 largest shrimp suppliers to the UK, shrimp imports from Vietnam experienced the highest year-on-year surge of 48.4%, followed by Canada, the largest source to the UK which was 47.4%.
Meanwhile, shrimp imports from India, Thailand, Indonesia dropped by 20%, 38% and 7%, respectively. Shrimp imports from India fell due to lower production and higher price. Imports from Thailand went downward as shrimp export duty to EU got higher. EU's generalized scheme of preferences (GSP) came to an end in 2014 and tax on processed shrimp from Thailand increased to 20%. From January 2015, tax on raw shrimp increased to 12% from the previous 4%.
The market share of warmwater in the UK is increasingly high. The product is often consumed for making sandwiches and salad.
100/200 count farmed vannamei is the safest substitute coldwater shrimp. In mid-June 2015, demand for small-sized warmwater shrimp rose as prices for coldwater shrimp were high at GBP 8/ kg.
With the advantage in producing value added products, Vietnam shrimp exporters have opportunities for raising its market share in the UK because the market is in high demand for ready-to-eat shrimp, cooked shrimp and finger food.
Shrimp exports to EU in general and the UK in particular in the last months of the year are expected to rise, but the reusults can be quite modest.
|
Top 10 shrimp suppliers to the UK (Value: US$ thousand, Source: ITC) |
|||
|
Supply |
Jan-Jul 2014 |
Jan-Jul 2015 |
Variations (%) |
|
The world |
489,507 |
481,520 |
-1.6 |
|
Canada |
63,370 |
93,418 |
47.4 |
|
India |
75,519 |
60,453 |
-19.9 |
|
Vietnam |
35,110 |
52,116 |
48.4 |
|
Bangladesh |
60,580 |
50,077 |
-17.3 |
|
Thailand |
63,447 |
39,293 |
-38.1 |
|
Indonesia |
36,710 |
34,161 |
-6.9 |
|
Denmark |
34,545 |
29,494 |
-14.6 |
|
Iceland |
28,042 |
20,361 |
-27.4 |
|
Honduras |
13,967 |
18,173 |
30.1 |
|
China |
13,576 |
14,339 |
5.6 |
(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.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn