July 6, 2015

 

Vietnam shrimp sector still recovering

 

 

Vietnam exported US$242.7 million worth of shrimps in May, down 29.6% from the same month last year, data from the Vietnam Association of Seafood Exporters and Producers (VASEP) showed.

 

Compared with last month, however, the May exports showed a 9% improvement.

 

The aggregate value of shrimp exports in the first five months, at $1 billion, also decreased by 29.4% compared with the same period last year.

 

The lower demands from the importing countries including the US, EU, Japan and China, which also caused a depression in prices, were to blame for the export slump, according to VASEP.

 

Vannamei (white-leg) shrimp worth $579.7 million accounted for 57.5% of Vietnam's total shrimp exports in the January-May period, while black tiger shrimps ($346.8 million) accounted for 33.3%.

 

The US imported $212.2 million worth of shrimps from Vietnam during the five-month period, which showed a sharp decline of 52% from last year due to slackened demand.

 

Exports to the EU were also down from January to May by 13.8%.

 

The slump in exports come at a time when Asian shrimp productions are recovering from the early mortality syndrome and are seen to rise this year. Last year's global shrimp production rose from 3.4 million tonnes in 2013 to 3.6 million tonnes, of which 3 million came from Asian farms.