April 20, 2017

 

Vietnam shrimp exports slightly decline in first 2 months

 
 

Vietnamese shrimp export in the first two months fell slightly, by 0.1%, in value compared with the same period last year, the Vietnam Association of Seafood Exporters and Producers (VASEP) said.

 

It said exports in the two-month period reached nearly US$378 million. Export value in January reached $198.7 million, down 12.6% over the same period in 2016, while in February, it increased 18.7%.

 

Several factors attributed to the decrease in shrimp exports included the increase in technical barriers from importing markets, the decrease in the demand for shrimps in the world market, limited supply of raw shrimp, and increased price of raw shrimp that caused factories to scale down purchase of raw materials for production.

 

The top 10 markets during the first two months were Japan, the EU, the US, China, South Korea, Canada, Australia, ASEAN, Taiwan and Switzerland, in that order. They accounted for 95.4% of Vietnamese shrimp exports.

 

Japan accounted for 21.4% of total shrimp exports, the EU 19.5% and the US 18.6%.

 

In the first two months, Vietnamese shrimp exports to Japan were valued at $81 million, up 33.6% from last year. Exports to the EU grew 16.2% to $73.7 million; South Korea 18.8%; and Canada 16.6%.

 

Value of exports in the first two months to the US was down 25% at $70.4 million and to China by 8.6%.