February 1, 2012

 

Vietnam's 2011 shrimp exports rise 13%

 

 

Despite production and export challenges, Vietnamese shrimp exports has reached US$2.4 billion last year - an increase of 13% over 2010, according to the  Vietnam Association of Seafood Exporters and Producers (VASEP).

 

Furthermore, total seafood export revenues reached US$6.1 billion, ranking Vietnam in the fourth spot for aqua exports. In 2012, it is expected to reach US$6.5 billion, a target set by the Ministry of Agriculture and Rural Development (MARD) and VASEP.

 

Ca Mau Province is leading shrimp exports and may boost its export production this year. Exports reached a record high of US$910 million in 2011 and the target for 2012 is US$1 billion, said MARD, SGGP reports.

 

In terms of prices, the shortage of shrimp supplies from major producers drove the global shrimp prices up while import demand from main consumers remained elevated. Surging shrimp prices at the start of 2011 thus led to the record high exports.

 

Japan, the US, the EU, China, Hong Kong and South Korea are Vietnam's main shrimp importers, making up 81.7% of the country's shrimp export value.

 

Japan was the leading importer at US$607.2 million, making up 25.3%, followed by the US at US$558.5 million, the EU at US$412.8 million, China at US$223.6 million and South Korea at US$157.5 million.

 

Meanwhile, back in July, the World Trade Organisation (WTO) ruled in favour of Vietnam regarding the US's anti-dumping duty on frozen shrimp from Vietnam.

 

The WTO concluded that the US was using the zeroing method in calculating anti-dumping margins for Vietnamese shrimp from February 2006 to January 2007 and February 2007 to January 2008, violating WTO rules. The US was then asked to adjust its duty calculation method per WTO principles.

 

Many shrimp exporters had been paying a 25% duty rate, which undermined their shrimp sales to the US.

 

In 2011, black tiger shrimp exports reached US$1.43 million just like in 2010, but whiteleg shrimp exports hit US$704 million, an increase of 70%.

 

An epidemic affected more than 81,000 hectares of farming areas of black tiger shrimp in the Soc Trang, Bac Lieu, Can Tho and Ca Mau provinces.

 

Although many shrimp exporters considered importing raw materials, many complicated procedures and high import duties got in the way.

 

In the short-term this year, shrimp exports are expected to continue growing as a result of lacking prawn supplies from Thailand due to floods. At the same time, demand is anticipated to remain high from the US, the EU and South Korea, VASEP added.