November 22, 2016

China biggest buyer of Vietnam black tiger shrimp

Vietnam's shrimp exports to China during the third quarter increased 11.7% to US$105.8 million compared with the same period last year, but down 12% compared with the previous quarter.

The decline from the second quarter was due to China's economic instability and the yuan devaluation, leading to temporary reduction in importing demand, according to the Vietnam Association of Seafood Exporters and Producers (Vasep).

Shrimp exports to this huge Asian market in the first nine months grew 30.3% to US$323.3 million year-on-year.

China is the fourth-largest market of Vietnamese shrimp, accounting for 14.4% of Vietnam's total shrimp exports. However, it is the largest importer of Vietnamese black tiger shrimp. China is considered an alternative market with many potentials in the context of declining exports to traditional markets, Vasep said.

Black tiger shrimp ban lifted

It will be recalled that on Dec 15, 2015, the ban on importing live black tiger shrimp into China was lifted, enabling enterprises to increase exports of this shrimp variety to the market. China has 58% share of the total black tiger shrimp that Vietnam exports. China also imports 38% Vietnamese whiteleg shrimp and 3% of marine shrimp.

China mainly imported live/fresh/frozen shrimp (HS 03) from Vietnam. 

According to the International Trade Centre, total shrimp imports into China reached 102,843 metric tonnes in 2015, worth $754.5 million and up 31.7% in volume and 36% in value. Ecuador is the main supplier of shrimp to China, accounting for 25% of the total import value.

Vietnam ranked 10th among the major shrimp suppliers to China, accounting for 1.4%. China tends to increase shrimp imports to meet demand for processing and domestic consumption, especially in the context of a decline of domestic shrimp production due to disease, according to Vasep.