Vietnam shrimp export thrives in crisis

Vietnam's frozen shrimp exports raked in over US$1.5 billion in 2009 and became the only seafood export staple that still managed to grow amid decreasing demands in the world due to the global crisis within the year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), during the period shrimp export grew 0.73% in value and 7.4% in volume, respectively, from a year earlier.

In 2009, more than 300 Vietnamese companies involved in exporting shrimp, of which 60 leading firms accounted for 80% of export revenue and 120 firms had export revenue below US$1 million.

This year, Vietnamese shrimp is exported to 82 markets, of which ten leading importers account for 80% of the revenue, including Japan, the US, South Korea, Taiwan, Germany, China, Australia, Canada, UK, and Belgium.

VASEP said prawns remained the major staple among various types of exported shrimp, contributing over 75% of the total revenue from seafood, while white-leg shrimp, however, has gradually become an important export staple. In 2009, Vietnam exported around 50,000 tonnes of vannamei shrimp, earning US$300 million.

VASEP General Secretary Truong Dinh Hoe said Vietnam expects to gain US$1.4 billion next year from seafood exports, of which prawns will remain the major export staple. Export volume of white-leg shrimp is expected to triple to 150,000 tonnes next year, earning around US$500 million.

Hoe said Vietnamese shrimps exported to Japan are set to enjoy zero percent duty in the coming time and this would bring more opportunities to gain market share for local exporters.