Shrimp exports rose sharply

Shrimp exports rose sharply

In the first 8 months of 2013, Vietnam seafood exports registered US$4.16 bill., up 4.3% from that of the same period of 2012. In which, shrimp exports generated over US$1.7 bill., increasing nearly 22% and occupying 41.5% of the total value.

In August 2013, exports of main seafood products sank while shrimp exports were up 65.5% compared to August 2012. Tremendous growth was reported in shrimp exports to all 10 main markets such as the U.S. (+145.9%), Japan (+23%), EU (+54.5%), South Korea (+96.2%).

In August 2013, the U.S. left Japan behind to become the largest importer of Vietnam shrimp. Vietnam’s shrimp exports to the U.S. have recovered since QII/2013 after the decline of 18.6% in 2012 and 6.3% in QI/2013. Through August 2013, shrimp shipment to the market touched over US$445.6 mill., up 52.4% from the same time of 2012.

Vietnam’s shrimp exports to the U.S. gained impetus thanks to sharp decline in Thailand’s shrimp production and increase in global shrimp price. China used to be the third largest importer of Vietnam shrimp after the U.S. and Japan. China’s demand for shrimp rose sharply due to undersupply caused by diseases.

Regional economic distress slashed EU’s demand for shrimp. However, the region is reported to escape from seriously economic downturn and regional demand for shrimp, particularly prawn starts to recover. Contraction in shrimp supply from Argentina and Thailand into EU also created momentum for Vietnam exporters to boost exports into the market. Vietnam shrimp exports to EU in August 2013 increased by 54.5%.

Undersupply and high demand raised the price of shrimp, particularly whiteleg shrimp in EU market. The price of whiteleg shrimp HOSO count 40/50 in EU market increased from US$7.40 per kilogram in January to US$10.10 per kilogram in September.

Canada - a potential market

Being the seventh largest importer of Vietnam shrimp, Canada’s demand for shrimp is firm. Through August 2013, Vietnam shrimp exports to Canada reached over US$63.6 mill., up 42.3%. Since April 2013 up to now, shrimp exports to the market reported positive growth, in which exports in April up 130% and exports of the other months up in the range of 22 – 92%.
Source: Vietnam Association of Seafood Exporters and Producers (VASEP)