Shrimp processing plant. (Photo: VNN)

Vietnam’s shrimp exports remain stable in Q1

VIET NAM
Saturday, May 20, 2017, 00:00 (GMT + 9)

In the first quarter this year, Vietnamese shrimp exports reached the same value as the same period in 2016, at USD 618.3 million, Vietnam Association of Seafood Exporters & Producers (VASEP) reported.

VASEP also revealed there was a sharp rise in raw shrimp price, which together with the anti-dumping tax imposed by the United States, led to a significant drop in Vietnamese shrimp exports to that country.

On the other hand, the demand for the species in Japan led to an increase in exports, favoured by the appreciation of the Japanese Yen that made shrimp exporting companies shift to this market.

Exports to other markets such as the European Union and South Korea reported a positive recovery to offset declines in the US China and Australia.

In the analysed quarter, whiteleg shrimp sales abroad remained the largest share of 63.3 per cent in Vietnamese shrimp exports; those of black tiger shrimp picked up 27.3 per cent and those of marine shrimp were 9.4 per cent.

In the period, exports of live/fresh/frozen whiteleg shrimp reached the highest value of USD 208.4 million in Vietnam’s total shrimp exports.

From January to March this year, exports of other canned/processed shrimp showed the highest increase of 91.3 per cent, worth by USD 1.1 million. Meanwhile, those of processed black tiger shrimp decreased by 34.8 per cent with the value of nearly USD 22 million.

As to markets, during the first quarter this year, Vietnam exported shrimp to 68 markets, representing an increase from 64 markets in the same period in 2016. The top 10 main importing markets included Japan, the EU, the US, China, South Korea, Canada, Australia, ASEAN, Taiwan and Switzerland.

During the January-March period, the top five markets importing Vietnamese shrimp were Japan (21.9 per cent), the EU (19.2 per cent), US (18.1 per cent), China (15.1 per cent) and South Korea (10 per cent).

It is projected that the output of raw shrimp in 2017 will slightly increase to 660,000 tonnes and Vietnam’s shrimp exports in 2017 are forecast to hit USD 3.4 billion, which a 9 per cent growth year on year. 

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