Data from the US Marine Fisheries Service (NMFS) shows that US shrimp imports in April reached 69,000 tons, equivalent to 721 million USD, up 10% in volume and 28% in value compared to the same period last year.
In the first 4 months of the year, US shrimp import reached 302,000 tons, equivalent to 3.1 bil USD, an increase of 17% in volume and of 31% in value compared to the same period last year.
Vietnam is the 4th largest shrimp supplier to the US after India, Indonesia and Ecuador. Vietnam shrimp export to the US reached 22.5 thousand tons, 255 million VND, a rise of 24.5% in volume and 42% in value compared to the same period in 2021. Vietnam shrimp market share in total US imports increased from 7% in the first four months of 2021 to 7.5% in the same period in 2022.
Vietnamese shrimp export price is higher than other competitor
In the first months of 2022, the average US shrimp import price rose sharply compared to the same period in 2021. Specifically, in April, the US shrimp import price reached 10.38 USD/kg, up 1.47 USD /kg over the same period in 2021.
In which, the average import price of Vietnam shrimp was 11.46 USD/kg, an increase of 1.29 USD/kg over the same period in 2021. The import price of Vietnam shrimp was higher than other suppliers such as India, Indonesia and Ecuador (the average import price from these markets is less than 10 USD/kg).
The price of shrimp imported from Vietnam is high, mainly because the US imports mainly black tiger shrimp, large and medium-sized whilte shrimp. In addition, shrimp imported from Vietnam has a higher processing content than shrimp from other countries.
Compiled by Thuy Linh
(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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