November 16, 2019
Vietnam shrimp exports resume slump after recovery in July; inventories high
Vietnam's raw shrimp prices have decreased as first-half production increased and left inventories in markets at high levels. Coupled with this was the higher supply of shrimp from other countries, which resulted in lower prices of imported shrimp in markets, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnamese shrimp exports also decreased in August and September after a recovery in July from a slump in the first half.
After export value rose 13% in July compared with the same month last year, August and September exports declined 1.6% and 7.4%, respectively. September exports reached US$307.3 million.
In the first nine months, shrimp exports reached $2.4 billion, down 7% from the same period in 2018.
VASEP noted that exports decreased mainly due to poor export results in the first six months as well as in August and September, despite a recovery in July.
In the first three quarters, whiteleg shrimp accounted for 69.4% of Vietnam's total shrimp exports and black tiger shrimp 20.9%; the rest was marine shrimp. Whiteleg shrimp exports reached $1.7 billion, down 5.8% from the same period in 2018, and black tiger shrimp exports $508.2 million, down 16%.
Other marine shrimp exports reached $236.5 million, up 6.3%.
In the first nine months, shrimp exports to the EU declined 20.8% to $513.4 million compared with the same period in 2018, while exports to the US market increased 1% to $476.9 million.
Shrimp exports to Japan in the first three quarters declined 1.9% to $444.7 million, while exports to China increased 7.2% to $382.3 million.
Vietnamese shrimp exports for the whole of 2019 are expected to reach $3.4 billion, down 4% compared with 2018.