Shrimp exports in the past 5 years achieved an average annual growth of 4% with an unstable annual growth. After 5 years, whiteleg shrimp exports have become increasingly dominant in export shrimp products thanks to strong growth.
Frozen shrimp products still accounted for a large proportion of Vietnam's total shrimp exports. Processed shrimp accounted for a significant proportion only in some major markets (the US, EU, Japan). The proportion of processed shrimp in the US market was the highest, followed by the EU, Japan, then South Korea, while ASEAN and China represented for low proportion.
Vietnam's top 6 shrimp importing markets included EU, the US, Japan, China and South Korea, accounting for 81-85% of the total shrimp import value in the last 5 years. Since 2017, the US and EU have exchanged positions because shrimp exports to the US have declined continuously and sharply decreased than the EU market. During this period, exports to China had the strongest breakthrough with an average annual growth of 16% and after 5 years increased by over 55%. After China, South Korea was also a notable market in the past 5 years, followed by the EU.
In general, regarding the import tax on shrimp products in major markets, Vietnam's products have advantages compared to other exporting countries such as Indonesia, India, Thailand, China, especially in markets signed FTA agreement with Vietnam. This will continue to be an advantage for Vietnam's shrimp exports in 2020 and in coming years.
However, the corona epidemic has been affecting shrimp production and export to markets in 2020, thus limiting the growth of shrimp industry this year, though the level of influence for each market will be different.
VASEP has released a Report on Vietnam shrimp sector, 2015 - 2019 (Vietnamese - English bilingual, 50 pages), providing detailed information and data on production and export movements of each major shrimp species to markets; assessing shrimp supply and demand trends in markets; comparing the export price, import tax of shrimp of Vietnam and other exporting countries in the markets; simultaneously evaluate the prospects of production and export to each market, the impact of the corona epidemic (opportunities, challenges and forecast on export turnover) in 2020.
Please see the details of the Report on Vietnam shrimp sector, 2015 - 2019 here.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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