Shrimp processing plant. (Photo: VASEP)
Vietnamese shrimp exports generate USD 1,900 million until July
(VIET NAM, 10/16/2018)
Vietnamese shrimp export value declined by 20.3 per cent in July, reaching USD 294.5 million, with which accumulated sales abroad in the first seven months this year grew only by 0.2 per cent year-on-year, to USD 1,900 million.
According to statistics from the Vietnam Association of Seafood Exporters & Producers (VASEP), sales of whiteleg shrimp occupied 67.6 per cent in Vietnam’s total shrimp exports, those of black tiger shrimp took up 23.4 per cent and those of marine shrimp picked up 8.9 per cent.
In the first seven months of 2018, the export value of whiteleg shrimp increased by 7 per cent while that of black tiger shrimp fell by 8 per cent. Marine shrimp exports dropped by 20 per cent in value compared to the same period last year.
The entity stressed that in July this year, shrimp exports to major markets decreased compared to the same month a year ago. Exports to China fell by 47 per cent while those to Japan and the US decreased by 15 per cent and 18 per cent, respectively. Sales to the EU and South Korea also decreased by 15 per cent and 10 per cent, respectively.
VASEP considers that the fall in shrimp exports in the second quarter this year was driven by the impact of the drop in raw shrimp prices, which has affected the export price; meanwhile, high inventories also resulted in lower import orders from major markets.
The domestic raw shrimp price in that quarter decreased compared with the previous months. The price in the major producing countries such as India, Thailand, Indonesia, and China also fell sharply in the context of the bulk of the harvest which led to an oversupply.
VASEP's statistics show the EU remained as a large importing market of Vietnamese shrimp in the first 7 months of this year, accounting for 24.9 per cent.
While exports of the resource to this market destination grew well in the first six months of the year, in July they began to fall by 14.6 per cent to reach USD 74 million. Exports to the EU as of July this year reached USD 479.8 million, representing a growth of 26 per cent over the same period last year.
Exports to the three major markets (the Netherlands, the UK, Germany) rose by 46 per cent, 20 per cent and 36 per cent in the first seven months of this year.
In seven-month period, shrimp sales to the US decreased by 9.5 per cent to hit USD 311.8 million. A rise in the anti-dumping duty partly caused a fall in Vietnam’s shrimp exports to this market.
In terms of total US shrimp imports, after a continuous increase in the last 14 months, the US shrimp imports decreased in May and June this year. High inventories and difficulties in all major sources had reduced shrimps supplies to the US market. High inventories and difficulties in all main sources reduced shrimp supply to the American market.
VASEP highlighted that in the first half of this year, the US imported 303,637 tonnes of shrimp, worth by USD 2.8 billion, which is a 6 per cent growth in volume and 3 per cent increase in value over the same period in 2017. The top five biggest suppliers to the country included India (21.7 per cent), Ecuador (12.2 per cent), Thailand (7.2 per cent) and Vietnam (7.1 per cent).
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