November 5, 2013
According to the Vietnam Association of Seafood Exporters and Processors (VASEP), seafood exports raked in US$4.7 billion in the first nine months of this year, 4.5% more than the same period last year, including US$2 billion contributed by shrimp.
It was reported that the surge results from a hike in the global price of shrimp was due to its scarce supply.
In the remaining months of this year, shrimp exports are expected to continue enjoying advantages on positive signals in the US market as the US Department of Commerce (DoC) recently confirmed that Vietnamese businesses trading with the US will not dump their frozen warm-water shrimp products on the market.
The increase in shrimp exports is also attributed to changes in the global market when some countries are cutting down their export of shrimp due to infectious diseases in this crustacean. Vietnam has controlled the diseases, thus ensuring the supply of shrimp to the world and making a high profit.