In the first month of this year, Viet Nam exported shrimp to 49 markets with export value reaching US $ 264.8 million.

According to Vietnam Association of Seafood Exporters and Producers (Vasep), after seeing a positive growth rate in 2017, Viet Nam’s shrimp export in the early 2018 continued recording an impressive growth. In January, Viet Nam exported shrimp to 49 markets with export value reaching US $ 264.8 million, increasing by 33.2 per cent compared to the same period last year.

Shrimp export to the main markets registered a positive growth rate. Of which, Australia saw a strongest increase of 169.7 per cent, which was followed by South Korea with growth rate of 81.3 per cent. Also, three large markets including EU, U.S and Japan saw a growth rate of 13.4 per cent, 12.1 per cent and 3.7 per cent, respectively.

This increase was attributable to the high demand in the world market, coupled with the fact that shrimp price was stable and in the upward trend.

In terms of Viet Nam’s shrimp export structure, white leg shrimp accounted for the largest proportion of 68.9 per cent, which was followed by black tiger shrimp of 18.5 per cent and marine shrimp, 12.6 per cent. China was the largest importer of Viet Nam’s black tiger shrimp with import value reaching US $ 15.2 million while U.S was the biggest importer of Viet Nam’s white legged shrimp with import value reaching US $ 29.4 million.

In January proportion of white legged shrimp export saw an increase while that of black tiger shrimp recorded a reduction. Export value of white legged shrimp increased by 43 per cent while that of black tiger shrimp reduced by 7 per cent compared to the same period last year.

Regarding white legged shrimp, export value of shrimp (code HS 16) and live/fresh/frozen (code HS 03) increased by 43 per cent. Meanwhile, export value of processed black tiger shrimp (HS 16) reduced by 27 per cent and that of fresh/live/frozen black tiger shrimp (HS 03) reduced by 4 per cent.

EU market

EU remained the largest shrimp importer of Viet Nam’s shrimp, accounting for 18.6 per cent of Viet Nam’s total shrimp export. In January, shrimp export to this market gained US $ 49.4 million, increasing by 13.4 per cent compared to the same period last year. In addition, shrimp export to three markets among EU block including Holland, Germany and Belgium saw a strong increase of 2 digits. While growth rate of Viet Nam’s shrimp export to Holland and Germany increased by 65.1 per cent and 62.2 per cent, that to Belgium reached 29 per cent.

Especially, after taking enforcement, Vietnam-EU Free Trade Agreement (EVFTA) would create a good chance for Viet Nam’s shrimp exporters. According to the EVFTA’s commitment, Viet Nam’s goods including shrimp item would get preferential tariff when exporting to EU.

Japan

Japan was the second largest importer of Viet Nam’s shrimp, accounting for 17 per cent of Viet Nam’s total shrimp export value. In January, Viet Nam’s shrimp export to the market reached US $ 45 million, increasing by 3.7 per cent compared to the same period last year.

Japan was considered as a stable market among the Viet Nam’s main shrimp import markets. The demand of shrimp from Viet Nam was high, coupled with exchange rate was supporting Viet Nam’s shrimp exporters since it caused shrimp price from Viet Nam was cheaper than other suppliers. In addition, Viet Nam’s shrimp producers have been improving their shrimp quality and technology in processing shrimp which could help their shrimp products dominant on Japan market.

U.S

In January, U.S, reached the third position among shrimp import markets from Viet Nam. Shrimp export to the market gained US $ 40.7 million, increasing by 12 per cent compared to the same period last year.

Shrimp export to the U.S saw a decline since Viet Nam’s shrimp exporters were affected by anti-dumping tax on this market. Besides, India’s shrimp exporters were boosting their shrimp export to the U.S to compensate its shrimp export decline from other markets. This caused the share of Viet Nam’s shrimp on the U.S to reduce.

Australia

In January, Viet Nam’s shrimp export to Australia saw a strong growth rate of 169.7 per cent to US $ 11 million. The demand of shrimp import into this market was still high due to its shortage in shrimp production while increasing in shrimp consumption. Recently, Australian Agriculture and Resources sent a delegation to Viet Nam to assess Viet Nam’s shrimp quality and safety production process. Viet Nam’s shrimp quality was highly appreciated by Australia’s shrimp importers. Primary results of assesses on Viet Nam’s shrimp quality and safety production process opened a door for Viet Nam’s shrimp exporters to boost their shrimp export to the market.