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February 28, 2017

 

Vietnam shrimp exports up 6.7% in 2016
 

 

Vietnamese shrimp exports last year reached US$3.15 billion in value, up 6.7% from 2015, out of which whiteleg shrimp accounted for 62.1% of the total, black tiger shrimp 29.5% and marine shrimp 8.3%, the Vietnam Association of Seafood Exporters and Producers (VASEP) said.

 

VASEP said all months, except May, posted positive growth rates ranging from 0.1 to 12.3%.

 

The 2016 growth reversed 2015's negative growth of 25.3%, VASEP said.

 

It said that in 2016, Vietnamese shrimp were exported to 93 markets, compared with 95 in 2015.

The top 5 importing markets included the US (accounting for 22.5% share of total exports), EU (19.1% share), Japan (19%), China (13.8%) an South Korea (9%).

 

Vietnamese shrimp exports to the US, the top market, reached $708.8 million, an increase of 7.9% compared with 2015, while those to the EU hit $600.4 million, up 9.4%. Sales to Japan in 2016 increased 2.7% to $599.8 million.

 

Other top destinations

 

Other top Vietnamese shrimp destinations were Australia, Canada, Asean, Taiwan and Switzerland.

 

The top 10 markets accounted for 95.4% of the country's total shrimp exports.

 

Exports to eight of the top 10 markets reported an increase, but exports to Canada and Taiwan were down 11.6% and 20.8%, respectively. Canada and Taiwan accounted for 3.9% and 1.6%, respectively, of total shrimp exports.

 

Exports to China showed the largest increase at 24.3%. Sales to the US, EU, Japan and South Korea rose 7.9%, 9.4%, 2.7% and 13.6%, respectively.

 

In the first quarter of this year, Vietnam shrimp exports are forecast to touch $619 million, just the same as the same period last year.

 

Recovery factors

 

The recovery in shrimp sales in 2016 was attributed to upward trend in global shrimp price, higher demand from importing markets, rise in the output of shrimp, and more stability in currencies in the world.

 

Also, stability in the in the domestic price of raw shrimp and rise in export price of shrimp facilitated shrimp exports, VASEP said.

 

The growth was achieved despite some obstacles including unfavourable weather, salinity, lack of raw material and diseases. Vietnamese exporters also encountered pressures from markets such as higher anti-dumping duty on shrimp exported to the US and technical barriers from the EU, Japan and Australia.

 

Prime Minister Nguyen Xuan Phuc has said that Vietnam's shrimp sector should aim for an export value of $10 billion in eight years' time, or by 2025.

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