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October 26, 2017

 

Vietnam shrimp exports up 21% in first 8 months

 

 

Vietnam's shrimp exports in the first eight months amounted to US$2.3 billion, up 21.3% over the same period in 2016, according to the Vietnam Association of Seafood Exporters and Producers.

 

Although the export rise was mainly attributed to increased demand from major importing markets, it came along with a 4.2% enlargement of the area for shrimp farms (estimated at over 679,000 hectares) and 21.4% year-on-year hike in yield (over 363,000 tonnes).

 

Shipments of whiteleg shrimp accounted for most of the total shrimp exports during the eight-month period at 64.2% (from 60.4% in January-August 2016), while black tiger shrimp accounted for 24.5% (from 31.4%). Marine shrimp took up 11.2% (from 8.2%) of the total shrimp exports.

 

Sales of whiteleg shrimp hit $1.2 billion, up 29%, while those of black tiger shrimp reached $605.9 million, down 5% over the same period last year.

 

The top 10 importers of Vietnamese shrimp were (in order) the EU, Japan, China, the US, South Korea, Canada, Australia, ASEAN, Taiwan and Switzerland.

 

Cited data from the Vietnam customs showed that in the first eight months, the EU's shrimp imports from Vietnam reached $483.6 million, up 30% year-on-year.

 

The US dropped to fourth place among the leading Vietnamese shrimp importers during the first eight months. Shrimp exports to the US, valued at nearly $416 million, were down 4.4% over the same period in 2016.

 

Due to the good demand from Asian markets--including Japan, China and South Korea--and the EU, Vietnam's shrimp exports in 2017 are expected to total $3.4 billion, up 6% compared with 2016.

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